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22 May 2015
DXY regains 95.00
FXStreet (Edinburgh) - The US Dollar Index, which measures the greenback vs. its main competitors, is extending its weekly correction lower albeit it managed to retake the 95.00 mark.
DXY attention to US inflation
After a promising start of the week, the greenback is now retreating for the second consecutive session after rebounding from last week’s lows around the 93.00 handle to Wednesday’s boundaries of 96.00.
The dollar will remain under pressure however, in light of the CPI figures in the US economy. Prior surveys expect headline consumer prices to have contracted 0.1% during the last month and Core prices to have advanced 1.7% vs. 1.8% from the previous month.
DXY relevant levels
The index is now retreating 0.22% at 95.04 with the immediate support at 94.08 (low May 19) ahead of 93.27 (low May 18) and then 93.17 (low May 14). On the upside, a break above 95.83 (high May 20) would aim for 96.18 (high Apr. 29) and finally 96.93 (high Apr.28).
DXY attention to US inflation
After a promising start of the week, the greenback is now retreating for the second consecutive session after rebounding from last week’s lows around the 93.00 handle to Wednesday’s boundaries of 96.00.
The dollar will remain under pressure however, in light of the CPI figures in the US economy. Prior surveys expect headline consumer prices to have contracted 0.1% during the last month and Core prices to have advanced 1.7% vs. 1.8% from the previous month.
DXY relevant levels
The index is now retreating 0.22% at 95.04 with the immediate support at 94.08 (low May 19) ahead of 93.27 (low May 18) and then 93.17 (low May 14). On the upside, a break above 95.83 (high May 20) would aim for 96.18 (high Apr. 29) and finally 96.93 (high Apr.28).