OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: US Dollar Index retreats from highs

FXstreet.com (Barcelona) - The US Dollar index, which tracks the greenback against its major competitors, is consolidating gains well above the 82.00 mark on Monday, albeit now giving away some profits after hitting intraday highs around 82.50, in a context tilted towards the risk-off trade.

“Consolidation will likely be the theme for the day, and for good reason: traders need a breather after last week set forth a Fed policy meeting on Wednesday, an ECB policy meeting on Thursday, and the April US labour market report on Friday”, explained Christopher Vecchio, Currency Analyst at DailyFX.

At the moment, the index is up 0.09% at 82.35, and according to tradincentral.com the next hurdle lies at 82.45 and 82.60; support levels align at 81.90, 81.60 and 81.30.

US markets keep the positive near record highs

US equities are advancing on Monday, as last Friday’s Payrolls are still buoying the sentiment. The greenback, tracked by the US Dollar Index, is trading in the positive ground as well, hovering over the 82.35/40 region....
Read more Previous

Forex Flash: RBA to hold rates unchanged - UBS

The Reserve Bank of Australia is schedule to hold its monthly monetary policy meeting on Tuesday May 7th at 4:30 GMT (14:30 Sydney time). The market's consensus is the RBA to keep its interest rate unchanged at 3.0% and the UBS' analyst team expects the same but they are focusing in the possible dovish tone of the press release.
Read more Next
Start livechat