18 May 2015
DXY toying with 94.00
FXStreet (Edinburgh) - The greenback, in terms of the US Dollar Index, keeps pushing higher at the beginning of the week, now challenging daily tops near the 94.00 handle.
DXY firmer on Greek woes
The dollar saw its buying interest renewed following increasing concerns regarding Greece in light of the upcoming EU Leaders Summit in Riga ahead in the week. The risk-off trade has been gathering steam since the opening bell in Europe, with the greenback trading on a firmer footing against its G10 peers and recovering part of last week’s drop.
Data wise in US, the Housing Market index tracked by NAHB eased to 54 during May, below forecasts at 57 and April’s 56. Next of relevance in the US calendar will be tomorrow’s housing sector gauges via Housing Starts and Building Permits.
DXY relevant levels
The index is now up 0.86% at 93.93 facing the next resistance at 94.02 (high May 15) followed by 94.59 (high May 13) and finally 95.25 (high May 11). On the flip side, a breakdown of 93.17 (low May 14) would open the door to 92.51 (low Jan.22) and then 92.20 (low Jan.21).
DXY firmer on Greek woes
The dollar saw its buying interest renewed following increasing concerns regarding Greece in light of the upcoming EU Leaders Summit in Riga ahead in the week. The risk-off trade has been gathering steam since the opening bell in Europe, with the greenback trading on a firmer footing against its G10 peers and recovering part of last week’s drop.
Data wise in US, the Housing Market index tracked by NAHB eased to 54 during May, below forecasts at 57 and April’s 56. Next of relevance in the US calendar will be tomorrow’s housing sector gauges via Housing Starts and Building Permits.
DXY relevant levels
The index is now up 0.86% at 93.93 facing the next resistance at 94.02 (high May 15) followed by 94.59 (high May 13) and finally 95.25 (high May 11). On the flip side, a breakdown of 93.17 (low May 14) would open the door to 92.51 (low Jan.22) and then 92.20 (low Jan.21).