9 May 2016
US Dollar firmer around 94.00
The greenback, tracked by the US Dollar Index, is extending the upside at the beginning of the week, currently testing highs around the 94.00 mark.
US Dollar up from 91.90
The upside in USD remains unaltered for the time being, advancing for the fifth consecutive session after dropping to the area of 91.90 during last week, levels last seen in January 2015.
Positive results in the US docket throughout last week, mixed reading from April Payrolls (160K) and a change in sentiment have all favoured the demand for the US dollar.
Ahead in the NA session, the Fed’s Labor Market Conditions Index is due later followed by the speech by FOMC’s Kashkari. Previously, C.Evans stressed the appropriateness of the current ‘wait-and-see’ stance by the Fed, while he reiterated that US fundamentals remain ‘good’.
US Dollar relevant levels
The index is up 0.14% at 94.02 and a breakout of 95.21 (high Apr.14) would aim for 95.39 (55-day sma) and then 96.42 (high Mar.28). On the flip side, the next support aligns at 91.89 (2016 low May 3) followed by 91.50 (low Jan.15 2015) and finally 87.23 (low Nov.17 2014).
US Dollar up from 91.90
The upside in USD remains unaltered for the time being, advancing for the fifth consecutive session after dropping to the area of 91.90 during last week, levels last seen in January 2015.
Positive results in the US docket throughout last week, mixed reading from April Payrolls (160K) and a change in sentiment have all favoured the demand for the US dollar.
Ahead in the NA session, the Fed’s Labor Market Conditions Index is due later followed by the speech by FOMC’s Kashkari. Previously, C.Evans stressed the appropriateness of the current ‘wait-and-see’ stance by the Fed, while he reiterated that US fundamentals remain ‘good’.
US Dollar relevant levels
The index is up 0.14% at 94.02 and a breakout of 95.21 (high Apr.14) would aim for 95.39 (55-day sma) and then 96.42 (high Mar.28). On the flip side, the next support aligns at 91.89 (2016 low May 3) followed by 91.50 (low Jan.15 2015) and finally 87.23 (low Nov.17 2014).