Back
8 Oct 2013
US Dollar index struggling around 80.00
FXstreet.com (Edinburgh) -The US Dollar Index, which gauges the greenback against its main rivals, is giving away earlier gains and returning to the boundaries of 80.00 the figure on Tuesday.
DXY following events in US
The greenback continues its erratic behaviour on Tuesday, clinging to the key level at 80.00 amidst mounting concerns regarding the US Government shutdown and the debt ceiling. “The partial shutdown of the US government and the political impasse remains the most important factor for markets. Many are also recognizing that the longer the government is closed, the more likely that the Fed's exit strategy from QE3 is delayed. The recent string of non-government data, including the ADP jobs estimate, auto sales, and consumer confidence all softened from the previous reports”, commented analysts at BBH.
DXY key levels
The index is now UP 0.08% at 79.97 with the next resistance at 80.18 (high Oct.4) ahead of 80.64 (high Sep.26) and finally 81.35 (high Sep.17). On the flip side, a breakdown of 79.49 (low Feb.6) would aim for 78.93 (low Feb.1) and finally 78.60 (Sep.14 2012).
DXY following events in US
The greenback continues its erratic behaviour on Tuesday, clinging to the key level at 80.00 amidst mounting concerns regarding the US Government shutdown and the debt ceiling. “The partial shutdown of the US government and the political impasse remains the most important factor for markets. Many are also recognizing that the longer the government is closed, the more likely that the Fed's exit strategy from QE3 is delayed. The recent string of non-government data, including the ADP jobs estimate, auto sales, and consumer confidence all softened from the previous reports”, commented analysts at BBH.
DXY key levels
The index is now UP 0.08% at 79.97 with the next resistance at 80.18 (high Oct.4) ahead of 80.64 (high Sep.26) and finally 81.35 (high Sep.17). On the flip side, a breakdown of 79.49 (low Feb.6) would aim for 78.93 (low Feb.1) and finally 78.60 (Sep.14 2012).