Category: Featured

The US dollar index, or more commonly referred to as the ‘DXY’, declined to levels not seen since March 13 on Tuesday after recording its sixth consecutive daily loss.

Despite Monday’s advance, a turn from 1.1157/1.1099 places 1.0995 on the hit list as support; alternatively, additional upside has resistance at 1.1239 calling for attention (essentially the same base as weekly QM).

Europe’s single currency journeyed to a peak of 1.1145 against its US counterpart last week, adding more than 200 pips into Friday’s close.

Europe’s shared currency retained a healthy underlying bid against the US dollar Thursday, adding 0.7% by London’s close. The US dollar index maintained a position south of 99.00, crossing through 98.50. In spite of this, the DXY was initially unmoved by the revision lower to Q1 GDP and larger-than-forecast unemployment claims.