The greenback, gauged by the US Dollar
Index, is sharply appreciating vs. its main rivals on Tuesday,
flirting with daily tops in the mid-97.00s.
US Dollar gives away
gains post-US releases
The index has abandoned the area of
session highs after another disappointment from the US docket. This time Factory
Orders have contracted more than expected 1.0% on a monthly basis during
September and November’s Business Optimism Index measured by IBD/TIPP has
printed 45.5 vs. 47.5 forecasted and 47.3 previous.
The positive tone
from US Treasuries remains the almost exclusive source of USD strength today,
pushing the index closer to recent tops near 97.90.
US Dollar
significant levels
As of writing the US Dollar Index is
advancing 0.48% at 97.46 facing the next hurdle at 97.89 (high post-FOMC Oct.28)
followed by 98.40 (monthly high Aug.7) and finally 99.00 (psychological level).
On the flip side, a breach of 96.51 (low Oct.28) would aim for 96.34 (61.8% Fibo
of 93.83-97.89) and then 95.87 (55-day sma).
