US Dollar Retakes 94.00 and Beyond
The greenback, gauged by the US Dollar Index, has recovered the smile today, bouncing off multi-month lows and advancing above the 94.00 mark.
US Dollar attention to Fedspeak
USD-bulls
seem to be buying the recent dip towards the vicinity of 93.60,
sustaining the ongoing rebound to the 94.00 neighbourhood following
mixed results from US Export and Import Prices for the month of March.
Collaborating
with today’s leg higher, Philly Fed’s P.Harker argued that the Fed
might need to hike faster if inflation accelerates aggressively. Next on
tap will be the speeches by San Francisco Fed J.Williams followed by
Richmond Fed J.Lacker.
US Dollar relevant levels
The
index is advancing 0.15% at 94.09 with the next hurdle at 94.79 (23.6%
Fibo of 98.59-93.62) followed by 95.06 (20-day sma) and finally 96.42
(high Mar.28). On the other hand, a break below 93.62 (2016 low Apr.12)
would target 93.00 (psychological level) en route to 92.52 (monthly low
Aug.24 2015).
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