13 Feb 2015
DXY supported around 94.00
FXStreet (Edinburgh) - The US dollar index, which gauges the greenback vs. its main competitors, is trading almost unchanged at the end of the week, hovering over the 94.00 mark.
DXY hurt by risk appetite
The USD is retreating for the third week in a row after being rejected from the 96.00 neighbourhood. The context favourable to the riskier assets keeps punishing the dollar, albeit it seems to have found decent support around 94.00 the figure.
Hopes of a EU-Greece deal on Monday plus easing geopolitical woes following the recent Russia-Ukraine cease-fire agreement plotted against any attempt of sustained recovery in the greenback. In addition, the resurgence of the buying interest around the crude oil helped the risk appetite to push higher. Ahead in the week, the Fed minutes on Wednesday will be the main event in the USD-universe.
DXY key levels
The index is now losing 0.03% at 94.27 with the immediate support at 93.97 (low Feb.13) followed by 93.39 (low Feb.3). On the other hand, the initial hurdle awaits at 95.10 (high Feb.12) and then 95.23 (high Feb.11).
DXY hurt by risk appetite
The USD is retreating for the third week in a row after being rejected from the 96.00 neighbourhood. The context favourable to the riskier assets keeps punishing the dollar, albeit it seems to have found decent support around 94.00 the figure.
Hopes of a EU-Greece deal on Monday plus easing geopolitical woes following the recent Russia-Ukraine cease-fire agreement plotted against any attempt of sustained recovery in the greenback. In addition, the resurgence of the buying interest around the crude oil helped the risk appetite to push higher. Ahead in the week, the Fed minutes on Wednesday will be the main event in the USD-universe.
DXY key levels
The index is now losing 0.03% at 94.27 with the immediate support at 93.97 (low Feb.13) followed by 93.39 (low Feb.3). On the other hand, the initial hurdle awaits at 95.10 (high Feb.12) and then 95.23 (high Feb.11).