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31 Jul 2015
US Dollar slumps to 96.50
FXStreet (Edinburgh) - The US Dollar Index, which tracks the greenback vs. its main rivals, has nose-dived to session lows in the 96.50 area post-US data.
US Dollar hurt by data
Disappointing results from the US Employment Cost Index (0.2% in Q2) have hammered the dollar, dragging it to the mid-96.00s and wiping out recent gains to the boundaries of 97.70.
The miserable print from the ECI has added to the already downbeat sentiment around the dollar following a profit-taking mood, which has been prevailing since early trade.
Ahead in the session, the Chicago PMI and Reuters/Michigan index are both due, with consensus at 50.5 and 94.0 respectively.
US Dollar relevant levels
As of writing the index is down 1.02 % at 96.56 with the next support 96.29 (low Jul.27) ahead of 96.26 (low Jul.14) and t hen 95.63 (low Jul.23). On the other hand, a breakout of 97.97 (high Jul.17) would aim for 98.16 (high Jul.20) and finally 98.46 (high Apr.21).
US Dollar hurt by data
Disappointing results from the US Employment Cost Index (0.2% in Q2) have hammered the dollar, dragging it to the mid-96.00s and wiping out recent gains to the boundaries of 97.70.
The miserable print from the ECI has added to the already downbeat sentiment around the dollar following a profit-taking mood, which has been prevailing since early trade.
Ahead in the session, the Chicago PMI and Reuters/Michigan index are both due, with consensus at 50.5 and 94.0 respectively.
US Dollar relevant levels
As of writing the index is down 1.02 % at 96.56 with the next support 96.29 (low Jul.27) ahead of 96.26 (low Jul.14) and t hen 95.63 (low Jul.23). On the other hand, a breakout of 97.97 (high Jul.17) would aim for 98.16 (high Jul.20) and finally 98.46 (high Apr.21).