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27 May 2015
DXY losses traction on Greek hopes
FXStreet (Edinburgh) - The US Dollar Index, which gauges the greenback against a basket of its major rivals, has left the area of session tops and is back around 97.40.
DXY retreats from 97.80
The index has managed to climb to multi-week peaks near 97.80 following gloomy headlines from the EU-Greece debt talks. However, and according to Greek officials, the negotiation team could be closer to clinch a deal. That seems to have been enough to trigger another rally in the risk-associated universe in detriment of the dollar, which remains in the positive territory nonetheless.
Ahead in the week, US Initial Claims and Pending Home Sales (Thursday) will precede another revision of the more relevant GDP Annualized (Friday).
DXY relevant levels
The index is now up 0.12% at 97.42 a surpass of 97.77 (high May 27) would open the door to 98.13 (high Apr.22) and then 98.41 (high Apr.23). On the other hand, the initial support lines up at 96.89 (low May 27) ahead of 94.82 (low May 22) and then 94.08 (low May 19).
DXY retreats from 97.80
The index has managed to climb to multi-week peaks near 97.80 following gloomy headlines from the EU-Greece debt talks. However, and according to Greek officials, the negotiation team could be closer to clinch a deal. That seems to have been enough to trigger another rally in the risk-associated universe in detriment of the dollar, which remains in the positive territory nonetheless.
Ahead in the week, US Initial Claims and Pending Home Sales (Thursday) will precede another revision of the more relevant GDP Annualized (Friday).
DXY relevant levels
The index is now up 0.12% at 97.42 a surpass of 97.77 (high May 27) would open the door to 98.13 (high Apr.22) and then 98.41 (high Apr.23). On the other hand, the initial support lines up at 96.89 (low May 27) ahead of 94.82 (low May 22) and then 94.08 (low May 19).