19 Aug 2015
US Dollar losses altitude pre-FOMC
FXStreet (Edinburgh) - The greenback, in terms of the US Dollar Index, has now given away initial gains and it has returned to the negative ground around 96.80/85.
US Dollar unmotivated by US CPI
July’s consumer prices in the US economy failed to ignite a positive reaction in the dollar, keeping the index within the recent range ahead of the FOMC minutes due later.
US inflation figures showed core prices advancing 1.8% on a yearly basis and headline prices gaining 0.2% YoY. The FOMC minutes are due next, with market participants looking for any clues regarding the likeliness of a Fed’s rate hike in September.
US Dollar relevant levels
As of writing the index is down 0.17% at 96.87 facing the immediate support at 95.92 (low Aug.12) ahead of 95.63 (low Jul.13) and finally 95.46 (low Jul.10). On the upside, a breakout of 97.33 (high Aug.12) would aim for 97.59 (high Aug.11) and then 97.92 (high Aug.10).
US Dollar unmotivated by US CPI
July’s consumer prices in the US economy failed to ignite a positive reaction in the dollar, keeping the index within the recent range ahead of the FOMC minutes due later.
US inflation figures showed core prices advancing 1.8% on a yearly basis and headline prices gaining 0.2% YoY. The FOMC minutes are due next, with market participants looking for any clues regarding the likeliness of a Fed’s rate hike in September.
US Dollar relevant levels
As of writing the index is down 0.17% at 96.87 facing the immediate support at 95.92 (low Aug.12) ahead of 95.63 (low Jul.13) and finally 95.46 (low Jul.10). On the upside, a breakout of 97.33 (high Aug.12) would aim for 97.59 (high Aug.11) and then 97.92 (high Aug.10).