18 Aug 2015
US Dollar bounces off 96.70
FXStreet (Edinburgh) - The US Dollar Index, which tracks the greenback vs. its main rivals, is wobbling around the 96.80 area after dropping to session troughs near 96.70.
US Dollar attention to US docket
The index failed to advance beyond the critical 97.00 barrier in early trade, sparking a leg lower to the 96.70 region following the European open. Market participants remain cautious ahead of tomorrow’s FOMC minutes, all against the backdrop of renewed expectations on a Fed’s lift-off in the next month.
In the meantime, the US housing sector will take centre stage today, with July’s Housing Starts (1.190 M exp.) and Building Permits (1.232 M exp.) to be published later.
US Dollar relevant levels
As of writing the index is up 0.03% at 96.83 and a breakout of 97.33 (high Aug.12) would aim for 97.59 (high Aug.11) and then 97.92 (high Aug.10). On the downside, the immediate support aligns at 95.92 (low Aug.12) ahead of 95.63 (low Jul.13) and finally 95.46 (low Jul.10).
US Dollar attention to US docket
The index failed to advance beyond the critical 97.00 barrier in early trade, sparking a leg lower to the 96.70 region following the European open. Market participants remain cautious ahead of tomorrow’s FOMC minutes, all against the backdrop of renewed expectations on a Fed’s lift-off in the next month.
In the meantime, the US housing sector will take centre stage today, with July’s Housing Starts (1.190 M exp.) and Building Permits (1.232 M exp.) to be published later.
US Dollar relevant levels
As of writing the index is up 0.03% at 96.83 and a breakout of 97.33 (high Aug.12) would aim for 97.59 (high Aug.11) and then 97.92 (high Aug.10). On the downside, the immediate support aligns at 95.92 (low Aug.12) ahead of 95.63 (low Jul.13) and finally 95.46 (low Jul.10).