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Trading news
20 Feb 2013
Forex: US Dollar Index keeps pushing higher, around 81.15/20
The US Dollar Index, which tracks the greenback against its major rivals, intensifies its intraday upside after the FOMC minutes have surprised investors with a hawkish tone.
The FOMC members hinted at the likeliness of higher risks derived from further easing, arguing at the same time that the US economy is growing at a moderate pace.
“A key take away is that the Fed's views about the exit strategy are still evolving and it is a mistake to read into the Jan minutes a clarity or decisiveness. Next month's FOMC minutes will be more important as the Fed will evaluate the impact of the long-term asset purchases”, explained Marc Chandler, analyst at Brown Brothers Harriman.
At the moment, the index is up 0.76% at 81.16 and according to tradingcentral.com the next resistance levels lie at 81.45, 81.70 and 82.00; while supports lie at 80.42, 80.23 and 80.04
The FOMC members hinted at the likeliness of higher risks derived from further easing, arguing at the same time that the US economy is growing at a moderate pace.
“A key take away is that the Fed's views about the exit strategy are still evolving and it is a mistake to read into the Jan minutes a clarity or decisiveness. Next month's FOMC minutes will be more important as the Fed will evaluate the impact of the long-term asset purchases”, explained Marc Chandler, analyst at Brown Brothers Harriman.
At the moment, the index is up 0.76% at 81.16 and according to tradingcentral.com the next resistance levels lie at 81.45, 81.70 and 82.00; while supports lie at 80.42, 80.23 and 80.04