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27 Apr 2015
DXY in lows, near 96.60
FXStreet (Edinburgh) - The greenback, in terms of the US Dollar Index, is extending the negative tone on Monday and trading in daily lows in the 96.60/50 band.
DXY hurt by Greece headlines
The recent re-shuffle of the Greek negotiating team has sparked a wave of risk-on trade in the global markets, confining the index to navigate the lower end of the intraday range around 96.60. The US dollar has reverted a positive start, although the prevailing risk appetite sentiment forced the index to breach the key support at the 97.00 handle.
Data wise in the US, flash Markit’s Services PMI came in at 57.8 for the current month, missing the median at 59.0 and down from March’s 59.2.
DXY relevant levels
The index is now retreating 0.31% at 96.62 with the immediate support at 96.33 (low Apr.6) en route to 96.17 (low Mar.26). On the other hand, a surpass of 97.55 (high Apr.24) would open the door to 98.66 (high Mar.31) and finally 99.18 (high Apr.9).
DXY hurt by Greece headlines
The recent re-shuffle of the Greek negotiating team has sparked a wave of risk-on trade in the global markets, confining the index to navigate the lower end of the intraday range around 96.60. The US dollar has reverted a positive start, although the prevailing risk appetite sentiment forced the index to breach the key support at the 97.00 handle.
Data wise in the US, flash Markit’s Services PMI came in at 57.8 for the current month, missing the median at 59.0 and down from March’s 59.2.
DXY relevant levels
The index is now retreating 0.31% at 96.62 with the immediate support at 96.33 (low Apr.6) en route to 96.17 (low Mar.26). On the other hand, a surpass of 97.55 (high Apr.24) would open the door to 98.66 (high Mar.31) and finally 99.18 (high Apr.9).