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1 Jun 2015
DXY off highs, back to 97.50
FXStreet (Edinburgh) - After hitting session highs near 97.70, the US Dollar Index is now giving away part of those gains and returning to the mid-97.00s.
DXY boosted by US calendar
The index recovered the strong upside momentum following an auspicious result from the US ISM Manufacturing, climbing above estimates to 52.8 during the last month, surpassing both the median and April’s reading. Further releases saw a flat Personal Spending, a buoyant Construction Spending albeit a softer inflation figures gauged by the PCE.
The USD keeps recovering the ground lots in the second half of last week, on track to challenge recent peaks around the 98.00 handle.
DXY relevant levels
The index is now up 0.65% at 97.53 and a breakout of 97.68 (high Jun.1) would aim for 97.77 (high May 27) and finally 98.13 (high Apr.22). On the other hand, the initial support aligns at 96.87 (low Jun.1) ahead of 96.75 (low May 29) and then 94.82 (low May 22).
DXY boosted by US calendar
The index recovered the strong upside momentum following an auspicious result from the US ISM Manufacturing, climbing above estimates to 52.8 during the last month, surpassing both the median and April’s reading. Further releases saw a flat Personal Spending, a buoyant Construction Spending albeit a softer inflation figures gauged by the PCE.
The USD keeps recovering the ground lots in the second half of last week, on track to challenge recent peaks around the 98.00 handle.
DXY relevant levels
The index is now up 0.65% at 97.53 and a breakout of 97.68 (high Jun.1) would aim for 97.77 (high May 27) and finally 98.13 (high Apr.22). On the other hand, the initial support aligns at 96.87 (low Jun.1) ahead of 96.75 (low May 29) and then 94.82 (low May 22).