OctaFX | OctaFX Forex Broker
Open trading account
Back

US Dollar unchanged near 98.00

FXStreet (Edinburgh) - The US Dollar Index, which tracks the greenback vs. its main rivals, is now trading almost unchanged, retracing the earlier spike to the 98.20 area.

US Dollar in 3-month peaks

The index is looking to consolidate the recent advance to the 98.00 neighbourhood, although poor results from today’s US docket have removed some tailwinds from USD, as Initial Claims and Unit Labor Costs have come in below estimates.

However, market expectations of a Fed’s lift-off in December continues to sustain the USD-rally (probability is above 50%), backed at the same time by the solid performance of US Treasuries as of late.

US Dollar significant levels

As of writing the US Dollar Index is advancing 0.02% at 98.03 facing the next hurdle at 98.40 (monthly high Aug.7) ahead of 99.00 (psychological level) and finally 100.38 (2015 high Mar.13). On the flip side, a breach of 96.51 (low Oct.28) would aim for 96.31 (200-day sma) and then 95.98 (55-day sma).

GBP underperforms as BoE set to diverge with Fed; neutral for longer - Scotiabank

GBP is underperforming following the BoE’s Super Thursday (decision/statement/minutes/Inflation Report) with a less hawkish shift hinting to the emergence of a gap between the normalizing Fed and a BoE that appears set to remain on hold for longer than previously expected, said Eric Theoret, FX Strategist at Scotiabank.
Read more Previous

AUD/USD neutral in the near-term – Westpac

The outlook on the Aussie dollar in the near term remains tilted to the neutral side, according to Strategist Sean Callow at Westpac...
Read more Next
Start livechat