OctaFX | OctaFX Forex Broker
Open trading account
Back

US Dollar firmer, toying with 95.00

FXStreet (Edinburgh) - The US Dollar Index, which gauges the greenback vs. its major rivals, is prolonging its upbeat momentum on Monday, climbing to the boundaries of the 95.00 handle.

US Dollar rebounds from 93.80

The index is advancing for the third session in a row after dropping to the 93.80 area last week, drove lower in response to market participants pushing back expectations of a Fed’s lift-off. Investors now see a 30% chance of a rate hike in December, while the likeliness of a lift-off in January and March remains steady at 40% and 52%, respectively.

Data wise in the US docket, the Housing Markey index tracked by NAHB has surprised to the upside for the current month, climbing to 64 vs. 62 initially forecasted and up from September 61. Next on tap will be the speech by Fed’s Lacker.

US Dollar significant levels

As of writing the US Dollar Index is up 0.21% at 94.96 and a surpass of 95.46 (50% Fibo of 98.40-92.52) would expose 95.73 (55-day sma) and then 96.01 (100-day sma). On the flip side, the immediate support aligns at 93.91 (23.6% Fibo of 98.40-92.52) followed by 92.52 (low post-PBoC move Aug.24).

US data ahead: Focus on earnings - Scotiabank

According to Derek Holt, economist at Scotiabank, during the week domestic influences on the US market tone will be largely confined to a heavy week for earnings releases.
Read more Previous

WTI challenges lows around $46.50

Crude oil prices are tumbling at the beginning of the week, with the barrel of West Texas Intermediate hovering over the mid-$46.00s per barrel...
Read more Next
Start livechat