Back
16 Mar 2015
DXY retreats to 99.80
FXStreet (Edinburgh) - The greenback, in terms of the US Dollar Index, is extending its slide on Monday and is challenging session lows in the 99.85/80 band.
DXY off highs near 100.70
After reaching overnight highs in levels last seen in March 2003 around 100.70, the index sparked a correction to the lower bound of the daily range around 99.80. The USD is giving away part of recent strong gains ahead of the key FOMC meeting due on Wednesday.
Disappointing releases in the US economy today have also collaborated with the selling sentiment around USD, as the Empire State manufacturing index, Capacity Utilization, Industrial Production and home prices tracked the NAHB index all failed to meet consensus.
DXY levels to consider
The index is now losing 0.83% at 99.88 and a break below 99.55 (low Mar.13) would target 99.07 (low Mar.12) en route to 99.03 (low Mar.11). On the upside, the initial barrier lines up at 100.78 (high Mar.13) followed by 101.00 (psychological level).
DXY off highs near 100.70
After reaching overnight highs in levels last seen in March 2003 around 100.70, the index sparked a correction to the lower bound of the daily range around 99.80. The USD is giving away part of recent strong gains ahead of the key FOMC meeting due on Wednesday.
Disappointing releases in the US economy today have also collaborated with the selling sentiment around USD, as the Empire State manufacturing index, Capacity Utilization, Industrial Production and home prices tracked the NAHB index all failed to meet consensus.
DXY levels to consider
The index is now losing 0.83% at 99.88 and a break below 99.55 (low Mar.13) would target 99.07 (low Mar.12) en route to 99.03 (low Mar.11). On the upside, the initial barrier lines up at 100.78 (high Mar.13) followed by 101.00 (psychological level).