FXStreet (Edinburgh) – The US Dollar Index, which tracks the greenback vs. its main competitors has now lost some impetus albeit keep moderate gains above the 95.00 mark.
DXY firmer post-data
Mounting uncertainty regarding the Greece-EU debt talks and a recovery in the German Bunds have been bolstering today’s upside in the US dollar, later boosted further by a very auspicious results from the US retail sales, growing more than anticipated during the last month (1.2% MoM act. vs. 1.1% exp.).
Further releases in the US calendar showed Initial Claims coming in a tad higher at 279K for the week ended on June 5th vs. 277K forecasted. Moving into Friday’s docket, the flash gauge of the consumer sentiment tracked by the Reuters/Michigan index is due followed by producer prices.
DXY levels to watch
The index is now advancing 0.60% at 95.15 with the initial hurdle at 95.45 (high Jun.9) 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)