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29 Jul 2015
USD Index in red near 96.60
FXStreet (Edinburgh) - The USD Index, which gauges the greenback vs. its main rivals, is retracing yesterday’s advance and returning to the 96.65/60 area.
USD Index eyes on FOMC meeting
The US dollar remains in the lower bound of the weekly range, with gains so far limited by the 97.00 handle. Mixed results in the US calendar as of late failed to give further support to Tuesday’s bullish attempt, leaving all the excitement for today’s FOMC meeting.
According to prior surveys, the Committee might show a hawkish tone today despite the absence of a press conference and economic projections, leaving September’s lift-off still ‘on the table’.
USD Index relevant levels
As of writing the index is retreating 0.13% at 96.65 with the next support at 96.29 (low Jul.27) ahead of 96.26 (low Jul.14) and then 95.63 (low Jul.13). On the other hand, a breakout of 96.97 (high Jul.28) would aim for 97.62 (high Jul.24) and finally 98.46 (high Apr.21).
USD Index eyes on FOMC meeting
The US dollar remains in the lower bound of the weekly range, with gains so far limited by the 97.00 handle. Mixed results in the US calendar as of late failed to give further support to Tuesday’s bullish attempt, leaving all the excitement for today’s FOMC meeting.
According to prior surveys, the Committee might show a hawkish tone today despite the absence of a press conference and economic projections, leaving September’s lift-off still ‘on the table’.
USD Index relevant levels
As of writing the index is retreating 0.13% at 96.65 with the next support at 96.29 (low Jul.27) ahead of 96.26 (low Jul.14) and then 95.63 (low Jul.13). On the other hand, a breakout of 96.97 (high Jul.28) would aim for 97.62 (high Jul.24) and finally 98.46 (high Apr.21).