9 Mar 2015
DXY off highs, around 97.60
FXStreet (Edinburgh) - The US Dollar Index, which gauges the greenback against a basket of its major rivals, is posting the first pullback in the last four sessions, currently around 97.60/65.
DXY cashing up gains pots- Payrolls
It seems reasonable to think that a profit taking session is due for the USD, mainly following the strong gains after the solid print from the US labour market during February. Market expectations for a Fed’s rate hike sooner that expected (June?) keep gathering traction amongst traders, bolstering at the same time the underlying bullish momentum in the dollar.
Not much in the data space today in the US economy with the Labor Market Conditions Index coming in at 4.0 for the last months vs. 4.9 posted in January.
DXY levels to consider
The index is now losing 0.12% at 97.63 with the next resistance at 97.84 (high Mar.9) ahead of 98.00 (psychological level). On the downside, a breakdown of 97.31 (low Mar.9) would aim for 96.32 (low Mar.6) and finally 95.86 (low Mar.5).
DXY cashing up gains pots- Payrolls
It seems reasonable to think that a profit taking session is due for the USD, mainly following the strong gains after the solid print from the US labour market during February. Market expectations for a Fed’s rate hike sooner that expected (June?) keep gathering traction amongst traders, bolstering at the same time the underlying bullish momentum in the dollar.
Not much in the data space today in the US economy with the Labor Market Conditions Index coming in at 4.0 for the last months vs. 4.9 posted in January.
DXY levels to consider
The index is now losing 0.12% at 97.63 with the next resistance at 97.84 (high Mar.9) ahead of 98.00 (psychological level). On the downside, a breakdown of 97.31 (low Mar.9) would aim for 96.32 (low Mar.6) and finally 95.86 (low Mar.5).