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23 Jun 2015
DXY buoyant above 95.00
FXStreet (Edinburgh) - The US Dollar Index, which tracks the greenback vs. its main rivals, is rallying on Tuesday, retaking the 95.00 mark and looking to consolidate above it.
DXY up on Greek woes, Treasuries
The greenback has gathered upside momentum today following fading hopes of a deal between Greece and its EU creditors. The rising uncertainty over the potential outcome of the debt renegotiation has triggered a sharp sell off in the euro, benefiting the greenback as consequence.
Furthermore, the dollar ignored the mixed results from the US docket with Markit’s manufacturing PMI and Durable Goods Orders coming in below estimates. On the opposite direction, New Home Sales surprised markets to the upside, increasing by 546K during May, or 2.2%.
Today’s solid performance of US Treasuries has been also supporting the dollar, after comments by Fed’s Powell favoured a rate hike in September.
DXY levels to watch
The index is now advancing 1.07% at 95.33 with the next resistance at 95.64 (high Jun.23) followed by 95.68 (high Jun.12) and then 96.91 (high Jun.5). On the other hand, a break below 93.90 (low Jun.19) would open the door to 93.29 (low Jun.17) and finally 93.17 (low May 17).
DXY up on Greek woes, Treasuries
The greenback has gathered upside momentum today following fading hopes of a deal between Greece and its EU creditors. The rising uncertainty over the potential outcome of the debt renegotiation has triggered a sharp sell off in the euro, benefiting the greenback as consequence.
Furthermore, the dollar ignored the mixed results from the US docket with Markit’s manufacturing PMI and Durable Goods Orders coming in below estimates. On the opposite direction, New Home Sales surprised markets to the upside, increasing by 546K during May, or 2.2%.
Today’s solid performance of US Treasuries has been also supporting the dollar, after comments by Fed’s Powell favoured a rate hike in September.
DXY levels to watch
The index is now advancing 1.07% at 95.33 with the next resistance at 95.64 (high Jun.23) followed by 95.68 (high Jun.12) and then 96.91 (high Jun.5). On the other hand, a break below 93.90 (low Jun.19) would open the door to 93.29 (low Jun.17) and finally 93.17 (low May 17).