24 Jun 2015
DXY in session highs near 95.50
FXStreet (Edinburgh) - The US Dollar Index, which tracks the greenback vs. its main competitors, keeps the recovery alive around the mid-95.00s so far.
DXY boosted by data, Greece
The greenback has staged a 50-pips comeback after dropping to session lows just below the 95.00 handle in early trade. Rising doubts on the ability of Greece and its EU creditors to clinch a deal before the June 30th deadline has given extra legs to the dollar, all amidst a context of increasing scepticism amongst traders.
Regarding the US docket, the final revision of Q1 GDP showed the economy contracted at an annual pace of 0.2% during the first quarter, matching the previous revision. On the bright side, Consumer Spending expanded 2.1% vs. 1.8% initially forecasted.
DXY relevant levels
As of writing the index is up 0.06% at 95.48 facing the next hurdle at 96.26 (high May 22) ahead of 96.54 (high Jun.8) and finally 96.91 (high Jun.5). On the flip side, a break below 94.30 (low Jun.23) would open the door to 93.81 (low Jun.22) and then 93.57 (low Jun.18).
DXY boosted by data, Greece
The greenback has staged a 50-pips comeback after dropping to session lows just below the 95.00 handle in early trade. Rising doubts on the ability of Greece and its EU creditors to clinch a deal before the June 30th deadline has given extra legs to the dollar, all amidst a context of increasing scepticism amongst traders.
Regarding the US docket, the final revision of Q1 GDP showed the economy contracted at an annual pace of 0.2% during the first quarter, matching the previous revision. On the bright side, Consumer Spending expanded 2.1% vs. 1.8% initially forecasted.
DXY relevant levels
As of writing the index is up 0.06% at 95.48 facing the next hurdle at 96.26 (high May 22) ahead of 96.54 (high Jun.8) and finally 96.91 (high Jun.5). On the flip side, a break below 94.30 (low Jun.23) would open the door to 93.81 (low Jun.22) and then 93.57 (low Jun.18).