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14 Apr 2015
DXY breached 99.00
FXStreet (Edinburgh) - The US Dollar Index, which measures the greenback against a basket of its major rivals, is quickly losing ground on Tuesday, testing lows in the 98.70/60 band.
DXY weaker after US docket
Poor releases in the US calendar today prompted the greenback to give away initial gains and drop to the area of 98.70/60, or 3-day lows. March’s Retail Sales expanded at a monthly pace of 0.9% vs. forecasts pointing to a 1.1% advance, while the Business Optimism Index by NFIB also missed consensus dropping to 95.2 during March from 98.0 previous and 98.4 expected.
Following the results, the greenback is now sapping a 6-day positive streak, trading back below the 99.00 handle after being rejected from the psychological 100.00 mark on Monday.
DXY relevant levels
The index is now losing 0.85% at 98.64 with the immediate support at 98.04 (low Apr.9) followed by 97.26 (low Apr.8) and finally 96.93 (low Apr.7). On the flip side, a surpass of 99.99 (high Apr.13) would target 100.00 (psychological handle) and then 100.19 (high Mar.16).
DXY weaker after US docket
Poor releases in the US calendar today prompted the greenback to give away initial gains and drop to the area of 98.70/60, or 3-day lows. March’s Retail Sales expanded at a monthly pace of 0.9% vs. forecasts pointing to a 1.1% advance, while the Business Optimism Index by NFIB also missed consensus dropping to 95.2 during March from 98.0 previous and 98.4 expected.
Following the results, the greenback is now sapping a 6-day positive streak, trading back below the 99.00 handle after being rejected from the psychological 100.00 mark on Monday.
DXY relevant levels
The index is now losing 0.85% at 98.64 with the immediate support at 98.04 (low Apr.9) followed by 97.26 (low Apr.8) and finally 96.93 (low Apr.7). On the flip side, a surpass of 99.99 (high Apr.13) would target 100.00 (psychological handle) and then 100.19 (high Mar.16).