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13 Aug 2013
US Dollar index in highs around 81.60
FXstreet.com (Edinburgh) -The greenback, measured by the US Dollar index, is advancing for the third consecutive session on Tuesday, trading in the upper en of the range around 81.60.
DXY focus on US docket
The USD would be in the limelight later as the US retail sales are due. Market consensus expects sales to have expanded 0.3% on a monthly basis during July and 0.4% stripping the automobile sector. “With the relatively decent tone in labour market activity and improvement in financial wealth from rising home and equity prices continuing to underpin household confidence, we expect the tone of this report to be encouraging, pointing to continued positive momentum in household spending”, assessed Jacqui Douglas, Senior Global Strategist at TD Securities.
DXY key levels
The index is now advancing 0.58% at 81.59 and a break above 82.50 (high Aug.2) would expose 83.12 (high Jul.15) and then 84.75 (high Jul.9). On the flip side, support levels align at 80.86 (low Aug.8) followed by 80.50 (low Jun.19) and then 80.27 (low Feb.20).
DXY focus on US docket
The USD would be in the limelight later as the US retail sales are due. Market consensus expects sales to have expanded 0.3% on a monthly basis during July and 0.4% stripping the automobile sector. “With the relatively decent tone in labour market activity and improvement in financial wealth from rising home and equity prices continuing to underpin household confidence, we expect the tone of this report to be encouraging, pointing to continued positive momentum in household spending”, assessed Jacqui Douglas, Senior Global Strategist at TD Securities.
DXY key levels
The index is now advancing 0.58% at 81.59 and a break above 82.50 (high Aug.2) would expose 83.12 (high Jul.15) and then 84.75 (high Jul.9). On the flip side, support levels align at 80.86 (low Aug.8) followed by 80.50 (low Jun.19) and then 80.27 (low Feb.20).