FXStreet (Edinburgh) – The greenback, tracked by the US Dollar Index, keeps pushing higher during the first half of the week, now toying with the key barrier at 97.00 the figure.
US Dollar propped up by housing data
The dollar has intensified its buying sentiment after US Housing Starts surprised investors to the upside today, posting multi-year highs just above the 1.2 million during July. On the not so bright side, Building Permits came in at 1.119 million vs. 1.232 million forecasted.
Market expectations of a Fed’s lift-off in September keep fuelling the demand for the greenback in light of tomorrow’s FOMC minutes in detriment of the risk-associated universe.
US Dollar relevant levels
As of writing the index is up 0.21% at 97.01 and a breakout of 97.33 (high Aug.12) would aim for 97.59 (high Aug.11) and then 97.92 (high Aug.10). On the downside, the immediate support aligns at 95.92 (low Aug.12) ahead of 95.63 (low Jul.13) and finally 95.46 (low Jul.10).
(Market News Provided by FXstreet)