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21 Apr 2016
US Dollar tumbles below 94.00
The US Dollar Index, which tracks the greenback vs. a basket of its major rivals, has accelerated its daily downside to fresh lows in sub-94.00 levels.
US Dollar lower on data, ECB
The index has fully faded the earlier spike to session highs near 94.70, quickly dropping to the 93.80 area following a lower-than-expected Philly Fed manufacturing index, coming in at -1.6 for the current month vs. 8.9 expected and 12.4 previous.
Further data saw Initial Claims increasing by 247K during last week, bettering expectations and taking the 4-Week Average to 260K from 265K.
USD remains within the recent range despite the negative performance during this week, with support emerging near last week’s 2016 lows in the 93.60 area and gains capped just above the 95.00 mark.
US Dollar relevant levels
The index is down 0.49% at 94.03 with the next support at 93.62 (2016 low Apr.12) ahead of 93.16 (monthly low May.15 2015) and finally 92.52 (monthly low Aug.24 2015). On the other hand, a breakout of 95.21 (high Apr.14) would aim for 95.51 (38.2% Fibo of 98.59-93.62) and then 95.95 (55-day sma).
US Dollar lower on data, ECB
The index has fully faded the earlier spike to session highs near 94.70, quickly dropping to the 93.80 area following a lower-than-expected Philly Fed manufacturing index, coming in at -1.6 for the current month vs. 8.9 expected and 12.4 previous.
Further data saw Initial Claims increasing by 247K during last week, bettering expectations and taking the 4-Week Average to 260K from 265K.
USD remains within the recent range despite the negative performance during this week, with support emerging near last week’s 2016 lows in the 93.60 area and gains capped just above the 95.00 mark.
US Dollar relevant levels
The index is down 0.49% at 94.03 with the next support at 93.62 (2016 low Apr.12) ahead of 93.16 (monthly low May.15 2015) and finally 92.52 (monthly low Aug.24 2015). On the other hand, a breakout of 95.21 (high Apr.14) would aim for 95.51 (38.2% Fibo of 98.59-93.62) and then 95.95 (55-day sma).