US Dollar climbs further to 99.60

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The US Dollar Index, which tracks the greenback vs. its main rivals, keeps its buoyancy today and advances to session peaks near 99.60.

    US Dollar closer to 100.00

    The index has recovered from yesterday’s pullback and is now trading closer to the psychological mark at 100.00, all backed by mounting expectations of a Fed’s rate hike at its December meeting. In fact, probabilities of a lift-off next month remain around 70% and slightly above for a January hike.

    On the data front, Export Prices have contracted 0.2% from September to October, while Import Prices have followed suit, down 0.5% during the same period.

    US Dollar significant levels

    As of writing the US Dollar Index is up 0.44% at 99.56 with the next hurdle at 100.00 (psychological level) ahead of 100.38 (2015 high Mar.13). On the flip side, a break below 96.51 (low Oct.28) would target 96.37 (200-day sma) and then 94.54 (2-month uptrend).
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