US Dollar gets the wings clipped

FXStreet The US Dollar Index (DXY) seems to be new selling interest and return to 99,50 back.

US Dollar puts the focus on CPI and retail sales

The Index has surrendered its initial gains, after he had risen in the European business to a new 3-week High at 99,80.

The continuation of the correction of the community currency, as well as a high selling interest around the Sterling as a reaction to the inflation report from the Bank of England (BoE) gave the Greenback in early trade, the wind at your back. However, the upward movement was around 99,80 run out of steam.

However, since the beginning of the week established upward movement, it remains unchanged and intact. Price were supportive Speeches by some Fed members, as well as positive US economic data and growing expectations of interest rate hikes.

In early trading, the influential members of the New York-based Bank W. Dudley (permanent voting, neutral) said that the Federal Reserve would have to be in the process of normalisation of the balance sheet very carefully. Trade barriers are a death sentence for the economy, he added, referring to Trump protest ionic attitude.

From the United States had us positive economic data achieved. The initial applications in the context of the US unemployment insurance fell by 2,000 to 236,000 and producer prices rose year by 2.5 percent. In a monthly comparison, they rose by 0.5 per cent. On Friday, the consumers are now published prices, and retail sales.

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The Index was last updated on 99,49 and to 0.01 percent in the Minus. The next supports lie at of 99.26 (20-day line), 99,14 (12-month support line) and 99,05 (Fibo 23.6%). Technical Resistances are at 99,77 (High 11. May), 99,81 (50% Fibo) and 99,94 (High 21. To find April).

** FXStreet News Editorial, FXStreet**

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