14 Jul 2015
DXY stabilizing around 96.60
FXStreet (Edinburgh) - DXY stabilizing around 96.60
The US Dollar Index, which tracks the greenback vs. its main rivals, keeps the red territory so far, navigating the 96.60 area.
DXY now looks to Yellen
The index has quickly left behind the poor prints from US retail sales during June, unexpectedly contracting 0.3% on a monthly basis vs. an anticipated advance of 0.5%. The dollar has then managed to rebound from session lows around 96.30 and is now regaining the 96.60 area, although the risk-on sentiment remains well and sound.
The next risk event for USD will be Wednesday’s Chairwoman Yellen’s Semi-Annual Testimony at Capitol Hill, where market participants will pay attention to any clue regarding the potential timing of the Fed’s lift-off.
DXY relevant levels
As of writing the index is losing 0.22% at 96.64 and a breach of 95.08 (low Jun.26) would aim for 94.86 (low Jun.30) and finally 94.72 (low Jun.29). On the upside, the immediate hurdle aligns at 97.24 (high Jul.7) followed by 97.34 (high Jun.5) and then 97.76 (high Jun.1).
The US Dollar Index, which tracks the greenback vs. its main rivals, keeps the red territory so far, navigating the 96.60 area.
DXY now looks to Yellen
The index has quickly left behind the poor prints from US retail sales during June, unexpectedly contracting 0.3% on a monthly basis vs. an anticipated advance of 0.5%. The dollar has then managed to rebound from session lows around 96.30 and is now regaining the 96.60 area, although the risk-on sentiment remains well and sound.
The next risk event for USD will be Wednesday’s Chairwoman Yellen’s Semi-Annual Testimony at Capitol Hill, where market participants will pay attention to any clue regarding the potential timing of the Fed’s lift-off.
DXY relevant levels
As of writing the index is losing 0.22% at 96.64 and a breach of 95.08 (low Jun.26) would aim for 94.86 (low Jun.30) and finally 94.72 (low Jun.29). On the upside, the immediate hurdle aligns at 97.24 (high Jul.7) followed by 97.34 (high Jun.5) and then 97.76 (high Jun.1).