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22 May 2015
DXY jumps to highs near 96.00
FXStreet (Edinburgh) - The upside in the USD is now quickly picking up pace, with the US Dollar Index climbing to session tops near the 96.00 mark.
DXY boosted by US CPI
The US dollar is reclaiming ground lost after US consumer prices surprised markets to the upside during April. In fact, the Core CPI advanced 0.3% inter-month and 1.8% over the last twelve months, leaving behind consensus at 0.2% and 1.7%, respectively. Headline prices contracted 0.2% on a yearly basis and rose 0.1% MoM.
Next of significance for the USD will be the speech by Fed’s Head Janet Yellen on ‘US Economic Outlook’, due later in the European evening.
DXY relevant levels
The index is now advancing 0.56% at 95.98 and a breakout of 96.18 (high Apr. 29) would open the door to 96.93 (high Apr.28) and then 97.27 (high Apr.27). On the downside, the immediate support lines up at 94.08 (low May 19) ahead of 93.27 (low May 18) and then 93.17 (low May 14).
DXY boosted by US CPI
The US dollar is reclaiming ground lost after US consumer prices surprised markets to the upside during April. In fact, the Core CPI advanced 0.3% inter-month and 1.8% over the last twelve months, leaving behind consensus at 0.2% and 1.7%, respectively. Headline prices contracted 0.2% on a yearly basis and rose 0.1% MoM.
Next of significance for the USD will be the speech by Fed’s Head Janet Yellen on ‘US Economic Outlook’, due later in the European evening.
DXY relevant levels
The index is now advancing 0.56% at 95.98 and a breakout of 96.18 (high Apr. 29) would open the door to 96.93 (high Apr.28) and then 97.27 (high Apr.27). On the downside, the immediate support lines up at 94.08 (low May 19) ahead of 93.27 (low May 18) and then 93.17 (low May 14).