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14 Aug 2015
US Dollar braces highs near 96.60
FXStreet (Edinburgh) - The US Dollar Index, which tracks the greenback against a basket of its main rivals, keeps gaining altitude on Friday, now testing highs around 96.60.
US Dollar better bid post-US releases
The buying interest around the greenback has kicked in at the beginning of the Asian session and persisted throughout the European evening. However, auspicious releases in the US docket saw Producer Prices, Capacity Utilization and Industrial Production surpassing or matching estimates, while the flash Reuters/Michigan index came in on the softer side.
The index is thus extending its recovery after the PBoC moves at the beginning of the week sent the dollar to re-visit multi-week lows in sub-96.00 levels. Following yesterday’s positive print from US Retail Sales plus today’s results, market expectations of a Fed’s lift-off in September are now back ‘on the table’, with a 50% chances according to experts.
US Dollar relevant levels
As of writing the index is up 0.17% at 96.61 and a breakout of 97.33 (high Aug.12) would aim for 97.59 (high Aug.11) and then 97.92 (high Aug.10). On the downside, the immediate support aligns at 95.92 (low Aug.12) ahead of 95.63 (low Jul.13) and finally 95.46 (low Jul.10).
US Dollar better bid post-US releases
The buying interest around the greenback has kicked in at the beginning of the Asian session and persisted throughout the European evening. However, auspicious releases in the US docket saw Producer Prices, Capacity Utilization and Industrial Production surpassing or matching estimates, while the flash Reuters/Michigan index came in on the softer side.
The index is thus extending its recovery after the PBoC moves at the beginning of the week sent the dollar to re-visit multi-week lows in sub-96.00 levels. Following yesterday’s positive print from US Retail Sales plus today’s results, market expectations of a Fed’s lift-off in September are now back ‘on the table’, with a 50% chances according to experts.
US Dollar relevant levels
As of writing the index is up 0.17% at 96.61 and a breakout of 97.33 (high Aug.12) would aim for 97.59 (high Aug.11) and then 97.92 (high Aug.10). On the downside, the immediate support aligns at 95.92 (low Aug.12) ahead of 95.63 (low Jul.13) and finally 95.46 (low Jul.10).