7 May 2015
DXY eases to 94.60
FXStreet (Edinburgh) - The greenback, measured by the US Dollar Index, has reverted the initial negative start and managed to clinch session highs just above 94.80.
DXY boosted by US data
The index accelerated the recovery from intraday lows near 93.90 after US Initial Claims (265K act.) came in above expectations during the week ended on May 1st. Market participants has considered the release as an auspicious token in light of tomorrow’s Non-farm Payrolls, with consensus expecting the US economy to have created 225K jobs in April.
Next on tap in the US docket will be the Consumer Credit Change for the month of March, expected at $16.0 billion.
DXY relevant levels
The index is now advancing 0.59% at 94.59 with the initial resistance at 94.82 (high May 7) ahead of 95.62 (high May 4) and finally 96.18 (high Apr.29). On the downside, a drop below 93.89 (low May 7) would aim for 93.80 (low Feb.17) and then 93.26 (low Feb.3).
DXY boosted by US data
The index accelerated the recovery from intraday lows near 93.90 after US Initial Claims (265K act.) came in above expectations during the week ended on May 1st. Market participants has considered the release as an auspicious token in light of tomorrow’s Non-farm Payrolls, with consensus expecting the US economy to have created 225K jobs in April.
Next on tap in the US docket will be the Consumer Credit Change for the month of March, expected at $16.0 billion.
DXY relevant levels
The index is now advancing 0.59% at 94.59 with the initial resistance at 94.82 (high May 7) ahead of 95.62 (high May 4) and finally 96.18 (high Apr.29). On the downside, a drop below 93.89 (low May 7) would aim for 93.80 (low Feb.17) and then 93.26 (low Feb.3).