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15 Aug 2013
Flash: US Dollar Index in red ahead of US data
FXstreet.com (Edinburgh) -The greenback, tracked by the US Dollar Index, is retreating for the second consecutive session, hovering over the mid 81.00s ahead of the US docket.
DXY hurt by Fed’s Bullard
St. Louis Fed President J.Bullard and his dovish tone in yesterday’s speech keeps weighing on the buck, remarking once again his doubts regarding the Fed tapering. Ahead in the day, the weekly report on the US labour market and the inflation figures will precede regional measures of the US manufacturing sector by the NY Empire State index and the Philly Fed Survey ahead of July’s numbers for the industrial production. USD bulls would look for strong readings in order to revert the intraday decline and keep the weekly rally alive.
DXY levels to watch
The index is now losing 0.28% at 81.51 with the immediate support at 80.86 (low Aug.8) followed by 80.50 (low Jun.19) and then 80.27 (low Feb.20). On the upside, a break above 82.50 (high Aug.2) would expose 83.12 (high Jul.15) and then 84.75 (high Jul.9).
DXY hurt by Fed’s Bullard
St. Louis Fed President J.Bullard and his dovish tone in yesterday’s speech keeps weighing on the buck, remarking once again his doubts regarding the Fed tapering. Ahead in the day, the weekly report on the US labour market and the inflation figures will precede regional measures of the US manufacturing sector by the NY Empire State index and the Philly Fed Survey ahead of July’s numbers for the industrial production. USD bulls would look for strong readings in order to revert the intraday decline and keep the weekly rally alive.
DXY levels to watch
The index is now losing 0.28% at 81.51 with the immediate support at 80.86 (low Aug.8) followed by 80.50 (low Jun.19) and then 80.27 (low Feb.20). On the upside, a break above 82.50 (high Aug.2) would expose 83.12 (high Jul.15) and then 84.75 (high Jul.9).