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17 Mar 2015
DXY flirting with 100.00
FXStreet (Edinburgh) - The US Dollar Index, which gauges the greenback vs. its main competitors, is recovering the 100.00 neighbourhood on Tuesday.
DXY supported near 99.60
After dipping to session lows in the area of 99.60, the index managed to pick up pace and revert the initial setback, although it still remains in the negative territory.
Disappointing data from the US housing sector – Housing Starts missed estimates – added to the recent less auspicious results in the US economy, intensifying the downside. Next of relevance for the dollar will be tomorrow’s FOMC meeting, with consensus tilted towards a hawkish statement from the Committee.
DXY levels to consider
The index is now losing 0.16% at 99.98 and a break below 99.55 (low Mar.13) would target 99.07 (low Mar.12) en route to 99.03 (low Mar.11). On the upside, the initial barrier lines up at 100.26 (high Mar.17) ahead of 100.78 (high Mar.13) followed by 101.00 (psychological level).
DXY supported near 99.60
After dipping to session lows in the area of 99.60, the index managed to pick up pace and revert the initial setback, although it still remains in the negative territory.
Disappointing data from the US housing sector – Housing Starts missed estimates – added to the recent less auspicious results in the US economy, intensifying the downside. Next of relevance for the dollar will be tomorrow’s FOMC meeting, with consensus tilted towards a hawkish statement from the Committee.
DXY levels to consider
The index is now losing 0.16% at 99.98 and a break below 99.55 (low Mar.13) would target 99.07 (low Mar.12) en route to 99.03 (low Mar.11). On the upside, the initial barrier lines up at 100.26 (high Mar.17) ahead of 100.78 (high Mar.13) followed by 101.00 (psychological level).