Back
30 May 2013
USD index at a break or make point
FXstreet.com (Barcelona) - The USD spot index (DXY) is currently sitting at the 83.48 mark, right above past 2 weeks lows, which turn out to be April highs at the same time. Currently at 83.45, the index is struggling to hold on as most major pairs are all aligned in critical levels as well.
With EUR/USD last at previous weekly highs 1.2973, USD/JPY below 101 round, Aussie below 0.97 key resistance level, and GBP/USD already breaking higher above the 1.5150 level, the USD is dealing with a key area ahead of a key risk event also, in the form of US Prelim GDP, not to mention US jobless claims at same time 12:30 GMT, followed by US pending home sales at 14:00 GMT.
With not much in the agenda apart from some Italian sovereign debt auction in Europe, volatility is guaranteed in the day ahead given critical levels are being broken ahead of such an important data, as the US GDP and jobless rate are for long standing debate of Fed tapering QE or not, and given so high US yields.
At the time of writing, the DXY index has posted fresh session lows at 83.40.
With EUR/USD last at previous weekly highs 1.2973, USD/JPY below 101 round, Aussie below 0.97 key resistance level, and GBP/USD already breaking higher above the 1.5150 level, the USD is dealing with a key area ahead of a key risk event also, in the form of US Prelim GDP, not to mention US jobless claims at same time 12:30 GMT, followed by US pending home sales at 14:00 GMT.
With not much in the agenda apart from some Italian sovereign debt auction in Europe, volatility is guaranteed in the day ahead given critical levels are being broken ahead of such an important data, as the US GDP and jobless rate are for long standing debate of Fed tapering QE or not, and given so high US yields.
At the time of writing, the DXY index has posted fresh session lows at 83.40.