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3 Mar 2015
DXY deflating to 95.30
FXStreet (Edinburgh) - The greenback, tracked by the US Dollar Index, is retracing part of the recent upside albeit remaining above the key 95.00 level.
DXY focus on US data
Absent relevant data releases and events in the US economy today, market participants took the time to cash up recent gains and sent the greenback to the red territory.
Moving forwards to Wednesday’s docket, the ADP Employment report, ISM Non Manufacturing and Services PMI will be the main highlights followed by speeches by Fed’s Evans, George and Fischer.
DXY levels to consider
The index is now down 0.19% at 95.34 and a breakdown of 94.07 (low Feb.26) would expose 93.90 (low Feb.19) and finally 93.87 (low Feb.17). On the flip side, the initial hurdle aligns at 95.77 (high Jan.23) followed by 95.84 (high Jan.26) and finally the psychological handle at 96.00.
DXY focus on US data
Absent relevant data releases and events in the US economy today, market participants took the time to cash up recent gains and sent the greenback to the red territory.
Moving forwards to Wednesday’s docket, the ADP Employment report, ISM Non Manufacturing and Services PMI will be the main highlights followed by speeches by Fed’s Evans, George and Fischer.
DXY levels to consider
The index is now down 0.19% at 95.34 and a breakdown of 94.07 (low Feb.26) would expose 93.90 (low Feb.19) and finally 93.87 (low Feb.17). On the flip side, the initial hurdle aligns at 95.77 (high Jan.23) followed by 95.84 (high Jan.26) and finally the psychological handle at 96.00.