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13 Apr 2015
DXY pushes higher, 100.00 on sight
FXStreet (Edinburgh) - The US Dollar Index, which tracks the greenback against its major rivals, is extending its upside momentum and trading closer to the 100.00 mark.
DXY in 4-week tops
The dollar is extending its upbeat momentum for the second consecutive week so far, this time helped by the softer Chinese trade data released over the weekend. The poor results added to the already concerns hovering over the markets regarding a slowdown in the growth momentum around China and at the same time fuelled speculations of further monetary easing by the PBoC.
Data wise, a light session across the pond will only see the publication of the Monthly Budget Statement while March’s Retail Sales are due tomorrow.
DXY relevant levels
The index is now up 0.40% at 99.73 and a break above 99.85 (high Apr.13) would target 100.00 (psychological handle) and then 100.19 (high Mar.16). On the downside, the immediate support lines up at 98.84 (low Apr.10) ahead of 98.04 (low Apr.9) and finally 97.26 (low Apr.8).
DXY in 4-week tops
The dollar is extending its upbeat momentum for the second consecutive week so far, this time helped by the softer Chinese trade data released over the weekend. The poor results added to the already concerns hovering over the markets regarding a slowdown in the growth momentum around China and at the same time fuelled speculations of further monetary easing by the PBoC.
Data wise, a light session across the pond will only see the publication of the Monthly Budget Statement while March’s Retail Sales are due tomorrow.
DXY relevant levels
The index is now up 0.40% at 99.73 and a break above 99.85 (high Apr.13) would target 100.00 (psychological handle) and then 100.19 (high Mar.16). On the downside, the immediate support lines up at 98.84 (low Apr.10) ahead of 98.04 (low Apr.9) and finally 97.26 (low Apr.8).