Back
16 Aug 2013
US Dollar Index retracing from highs
FXstreet.com (Edinburgh) -The greenback, gauged by the US Dollar Index, is recovering some ground after yesterday’s sharp sell-off, with the index hovering around 81.20/25 after climbing above 81.30 ealier.
DXY now looks to US housing data
After Thursday mixed data from the US labour market and manufacturing and industrial sectors, the USD will now look to the housing sector results, hoping for a reversion of its recent poor performance. Despite Thursday deep pullback, the buck is netting a positive week, bouncing from last week’s lows in sub 81.00 levels. At the moment: AUD 0.36%, EUR -0.02%, GBP 0.02%, NZD 0.16%, CAD 0.20% CHF 0.03% and JPY 0.01%. Futures in Wall St. 0.05% and S&P500 0.17%. WTI is down 0.13% and spot Gold is up 0.10%.
DXY levels to watch
The index is now up 0.05% at 81.21 and a break above 82.50 (high Aug.2) would expose 83.12 (high Jul.15) and then 84.75 (high Jul.9). On the downside, support levels align at 80.86 (low Aug.8) followed by 80.50 (low Jun.19) and then 80.27 (low Feb.20).
DXY now looks to US housing data
After Thursday mixed data from the US labour market and manufacturing and industrial sectors, the USD will now look to the housing sector results, hoping for a reversion of its recent poor performance. Despite Thursday deep pullback, the buck is netting a positive week, bouncing from last week’s lows in sub 81.00 levels. At the moment: AUD 0.36%, EUR -0.02%, GBP 0.02%, NZD 0.16%, CAD 0.20% CHF 0.03% and JPY 0.01%. Futures in Wall St. 0.05% and S&P500 0.17%. WTI is down 0.13% and spot Gold is up 0.10%.
DXY levels to watch
The index is now up 0.05% at 81.21 and a break above 82.50 (high Aug.2) would expose 83.12 (high Jul.15) and then 84.75 (high Jul.9). On the downside, support levels align at 80.86 (low Aug.8) followed by 80.50 (low Jun.19) and then 80.27 (low Feb.20).