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1 Oct 2013
DXY finishes month on a down note as traders vote with their feet on US geo-politics
FXstreet.com (Barcelona) - The DXY finished the day lower but off the lows for the session as traders jockeyed back and forth in this very fluid and nervous geo-political environment.
Euro weakness, British and US strength in Monday’s data outweighed by US politics
The data came in from around the world and on any other day the DXY would have ripped higher. Monday (heading into Tuesday), however, US geo-politics put traders on edge enough to force money out of risk and into the safety of US Treasuries – forcing yields and the DXY lower.
The DXY, in addition to government concerns in the US, will be reacting to varying degrees to Chinese PMI, Japanese household spending and unemployment, the Australian interest rate decision, German and EuroZone unemployment, German, US and EuroZone PMI and US construction spending.
Technical outlook for DXY
Technicians say the DXY has projected support at 79.93 with the next level of 79.62 just below that. Resistance comes in at 80.45 and 80.63.
Euro weakness, British and US strength in Monday’s data outweighed by US politics
The data came in from around the world and on any other day the DXY would have ripped higher. Monday (heading into Tuesday), however, US geo-politics put traders on edge enough to force money out of risk and into the safety of US Treasuries – forcing yields and the DXY lower.
The DXY, in addition to government concerns in the US, will be reacting to varying degrees to Chinese PMI, Japanese household spending and unemployment, the Australian interest rate decision, German and EuroZone unemployment, German, US and EuroZone PMI and US construction spending.
Technical outlook for DXY
Technicians say the DXY has projected support at 79.93 with the next level of 79.62 just below that. Resistance comes in at 80.45 and 80.63.