24 Mar 2015
DXY turns positive above 97.00
FXStreet (Edinburgh) - The greenback, in terms of the US Dollar Index, has not only retaken the 97.00 handle but it is also trading back to the positive ground.
DXY bolstered by US data
The US dollar saw its demand intensified after the US economy showed inflation figures higher than previously estimated for the moth of February. In the same direction, both the manufacturing PMI tracked by Markit and housing data from New Home Sales surpassed initial forecasts, giving the USD further tailwinds.
Collaborating with the USD upside, concerns over the possibility that Greece could run out of money in the very near term started to hover over the markets and weighed on sentiment.
DXY levels to consider
The index is now advancing 0.07% at 97.11 with the next resistance at 98.23 (high Mar.23) ahead of 99.11 (high Mar.20) and then 99.46 (high Mar.19). On the downside, a drop below 96.41 (low Mar.18) would aim for 96.30 (low Mar.6) and finally 95.84 (low Mar.5).
DXY bolstered by US data
The US dollar saw its demand intensified after the US economy showed inflation figures higher than previously estimated for the moth of February. In the same direction, both the manufacturing PMI tracked by Markit and housing data from New Home Sales surpassed initial forecasts, giving the USD further tailwinds.
Collaborating with the USD upside, concerns over the possibility that Greece could run out of money in the very near term started to hover over the markets and weighed on sentiment.
DXY levels to consider
The index is now advancing 0.07% at 97.11 with the next resistance at 98.23 (high Mar.23) ahead of 99.11 (high Mar.20) and then 99.46 (high Mar.19). On the downside, a drop below 96.41 (low Mar.18) would aim for 96.30 (low Mar.6) and finally 95.84 (low Mar.5).