4 Jun 2015
DXY in red, albeit above 95.00
FXStreet (Edinburgh) - The offered tone has returned around the US Dollar Index on Thursday, although the greenback manages well to keep the trade above the 95.00 handle so far.
DXY now looks to US Payrolls
Better than expected Initial Claims during the last week plus increasing uncertainty around the Greece-EU debt talks gave support to the US dollar during the European afternoon. However, that probed to be only an ephemeral correction, as the risk appetite trends re-emerged soon afterwards to rein in the sentiment.
Looking to Friday’s US docket, the most relevant release will be May’s Non-farm Payrolls, with the economy expected to have created 225K jobs, a tad better than April’s 223K.
DXY relevant levels
The index is now losing 0.24% at 95.23 and a breach of 94.73 (low Jun.4) would open the door to 94.09 (low May 19) and then 93.89 (low May 7). On the upside, the initial hurdle lines up at 96.51 (high Jun.3) followed by 97.68 (high Jun.1) and finally 97.77 (high May 27).
DXY now looks to US Payrolls
Better than expected Initial Claims during the last week plus increasing uncertainty around the Greece-EU debt talks gave support to the US dollar during the European afternoon. However, that probed to be only an ephemeral correction, as the risk appetite trends re-emerged soon afterwards to rein in the sentiment.
Looking to Friday’s US docket, the most relevant release will be May’s Non-farm Payrolls, with the economy expected to have created 225K jobs, a tad better than April’s 223K.
DXY relevant levels
The index is now losing 0.24% at 95.23 and a breach of 94.73 (low Jun.4) would open the door to 94.09 (low May 19) and then 93.89 (low May 7). On the upside, the initial hurdle lines up at 96.51 (high Jun.3) followed by 97.68 (high Jun.1) and finally 97.77 (high May 27).