25 May 2015
DXY off highs around 96.30
FXStreet (Edinburgh) - The US Dollar Index, which gauges the greenback vs. its major rivals, keeps the bid tone on Monday, currently hovering over the 96.30/35 band.
DXY focus on Fedspeak
There are no scheduled releases today in the US economy, while markets continue to digest last Friday’s inflation figures across the Atlantic. It is worth noting that the US dollar accelerated its correction higher after US core consumer prices advanced more than expected during April, consolidating the breakout of the 96.00 handle.
Ahead in the session, markets will pay attention to the speeches by Fed’s Vice-Chairman Stanley Fischer followed by Cleveland Fed’s Loretta Mester.
DXY relevant levels
The index is now advancing 0.32% at 96.32 and a breakout of 96.47 (high May 25) would open the door to 96.93 (high Apr.28) and then 97.27 (high Apr.27). On the downside, the immediate support lines up at 94.82 (low May 22) followed by 94.08 (low May 19) and finally 93.27 (low May 18).
DXY focus on Fedspeak
There are no scheduled releases today in the US economy, while markets continue to digest last Friday’s inflation figures across the Atlantic. It is worth noting that the US dollar accelerated its correction higher after US core consumer prices advanced more than expected during April, consolidating the breakout of the 96.00 handle.
Ahead in the session, markets will pay attention to the speeches by Fed’s Vice-Chairman Stanley Fischer followed by Cleveland Fed’s Loretta Mester.
DXY relevant levels
The index is now advancing 0.32% at 96.32 and a breakout of 96.47 (high May 25) would open the door to 96.93 (high Apr.28) and then 97.27 (high Apr.27). On the downside, the immediate support lines up at 94.82 (low May 22) followed by 94.08 (low May 19) and finally 93.27 (low May 18).