5 Aug 2015
US Dollar regains 98.00
FXStreet (Edinburgh) - After bottoming out in the 97.70 area, the US Dollar Index, has recovered the vicinity of the key mark at 98.00 on Wednesday.
US Dollar boosted by US ISM
The tepid release of the US ADP report has sent the index to test session troughs in the 97.70 region, although very auspicious results from the ISM Non-manufacturing during last month have given fresh wings to the dollar, pushing it to levels above the 98.00 mark again.
The index is thus advancing for the third consecutive session so far, bolstered by expectations of a Fed’s rate hike in September, hawkish comments by J.Bullard and D.Lockhart and a solid print from today’s ISM.
US Dollar relevant levels
As of writing the index is gaining 0.02% at 97.95 and a break above 98.22 (high Aug.5) would aim for 98.46 (high Apr.21) and finally 98.73 (high Apr.16). On the downside, the immediate support lines up at 97.21 (low Aug.4) ahead of 96.29 (low Jul.27) and then 95.63 (low Jul.23).
US Dollar boosted by US ISM
The tepid release of the US ADP report has sent the index to test session troughs in the 97.70 region, although very auspicious results from the ISM Non-manufacturing during last month have given fresh wings to the dollar, pushing it to levels above the 98.00 mark again.
The index is thus advancing for the third consecutive session so far, bolstered by expectations of a Fed’s rate hike in September, hawkish comments by J.Bullard and D.Lockhart and a solid print from today’s ISM.
US Dollar relevant levels
As of writing the index is gaining 0.02% at 97.95 and a break above 98.22 (high Aug.5) would aim for 98.46 (high Apr.21) and finally 98.73 (high Apr.16). On the downside, the immediate support lines up at 97.21 (low Aug.4) ahead of 96.29 (low Jul.27) and then 95.63 (low Jul.23).