FXStreet – The Dollar Index, which represents the strength of the USD vs. its 6 most important rival, can succeed to the start of the week compared to the G10’s competitors and so the recovery from the lows in the area of 97,00 (last Friday) will be expanded.
USD focus is on Fed’s speech, FOMC
After the new multi-month lows on Friday below 97,00 was formed, and took advantage of the buyers this opportunity and so the days could be highly educated in order of 97.30.
The returns of the US money markets to recover from their recent lows, the Dollar in its upward movement, a support.
The USD was most recently with the political unrest in the United States under pressure. While the dust settles the Controversy with Russia and the expectations of the Fed meeting in June, again coming to the fore. Currently, the CME Group FedWatch Tool shows a probability for a rate hike in June of more than 78.5 %.
The speculative dollar net Longs retreated from the lowest level since the beginning of October, as the CFTC report for the 16. To see may.
From the USA expect us today, Speeches by FOMC L. Brainard (permanent voters, centrist), Philly Fed P. Harker (voter, hawkish) and Minneapolis Fed of N. Kashkari (voter, dovish) before on Wednesday the FOMC meeting minutes will be released.
USD relevant levels
Currently, the days income is 0.18 % 97,17 and the next Resistances lie at 97,25 (High 20. May), 97,97 (High 18. May) and 98,62 (20-day SMA) On the other hand, supports are located at 96,97 (2017 Deep 19. May) 96,94 (Tief 4. November 2016) and 95,91 (Deep-9. November 2016).
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