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5 May 2015
DXY bounces off 95.20
FXStreet (Edinburgh) - After bottoming in the area of 95.20, the US Dollar Index is now looking to regain the 95.30/35 band.
DXY weaker on US data
The index is giving away part of recent gains following the results from the US trade balance, where the trade deficit increased to $51.37 billion during March vs. $41.2 billion expected and $35.89 billion previous. The US Services sector will take centre stage next, with Markit’s Services PMI and the ISM Non-manufacturing due.
The dollar is trading in red after two consecutive session of gains, looking to recover part of the ground lost following last week’s deep pullback.
DXY relevant levels
The index is now retreating 0.12% at 95.36 and a break below 95.04 (low May 4) would aim for 94.50 (low May 1) and then 94.40 (low Apr.30). On the upside, the initial hurdle lines up at 95.62 (high May 4) ahead of 96.18 (high Apr.29) and finally 96.93 (high Apr.28).
DXY weaker on US data
The index is giving away part of recent gains following the results from the US trade balance, where the trade deficit increased to $51.37 billion during March vs. $41.2 billion expected and $35.89 billion previous. The US Services sector will take centre stage next, with Markit’s Services PMI and the ISM Non-manufacturing due.
The dollar is trading in red after two consecutive session of gains, looking to recover part of the ground lost following last week’s deep pullback.
DXY relevant levels
The index is now retreating 0.12% at 95.36 and a break below 95.04 (low May 4) would aim for 94.50 (low May 1) and then 94.40 (low Apr.30). On the upside, the initial hurdle lines up at 95.62 (high May 4) ahead of 96.18 (high Apr.29) and finally 96.93 (high Apr.28).