FXStreet (Edinburgh) – The US Dollar Index, which tracks the greenback vs. its main rivals, is advancing for the second consecutive session so far, hovering over the mid-95.00s.
DXY focus on US consumer sentiment
The index continues to recover after the steep drop to multi-week lows around 94.30 during the first half of the week, extending the rebound beyond the 95.50 area. Yesterday’s solid print from US retail sales gave extra legs to the USD, helped at the same time by the mounting concerns around the EU-Greece debt talks.
Next of relevance in the dollar will be the Reuters/Michigan index, which sees the consumer sentiment ticking higher to 91.5 for the current month.
DXY levels to watch
The index is now advancing 0.48% at 95.43 with the initial hurdle at 95.68 (high Jun.12) followed by 96.91 (high Jun.5) and finally 97.68 (high Jun.1). On the flip side, a breach of 94.32 (low Jun.10) would expose 94.09 (low May 19) and then 93.27 (low May 18).
(Market News Provided by FXstreet)