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31 Mar 2015
DXY buoyant near 98.50
FXStreet (Edinburgh) - The US Dollar Index, which tracks the greenback vs. its main rivals, is extending its upside to the mid-98.00 Tuesday.
DXY boosted by risk-off sentiment, flows
Month/Quarter-end flows seem to be supporting the greenback today, currently advancing for the fourth consecutive session and recovering the 98.50/60 band. The prevailing risk-off sentiment amongst traders plus a positive US docket as of late remain keep propping up the recovery from the vicinity of the key support at 96.00 posted last week.
In the US calendar, Consumer Confidence surprised markets advancing to 101.3 for the month of March, leaving behind both previous estimates and February’s reading.
DXY levels to consider
The index is now up 0.50% at 98.46 with the initial up barrier at 99.11 (high Mar.20) ahead of 99.46 (high Mar.19) and then 99.79 (high Mar.18). On the downside, a break below 96.99 (low Mar.27) would expose 96.17 (low Mar.26) and finally 95.84 (low Mar.5).
DXY boosted by risk-off sentiment, flows
Month/Quarter-end flows seem to be supporting the greenback today, currently advancing for the fourth consecutive session and recovering the 98.50/60 band. The prevailing risk-off sentiment amongst traders plus a positive US docket as of late remain keep propping up the recovery from the vicinity of the key support at 96.00 posted last week.
In the US calendar, Consumer Confidence surprised markets advancing to 101.3 for the month of March, leaving behind both previous estimates and February’s reading.
DXY levels to consider
The index is now up 0.50% at 98.46 with the initial up barrier at 99.11 (high Mar.20) ahead of 99.46 (high Mar.19) and then 99.79 (high Mar.18). On the downside, a break below 96.99 (low Mar.27) would expose 96.17 (low Mar.26) and finally 95.84 (low Mar.5).