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US Dollar unchanged near 98.00

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 5, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    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).
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