US Dollar Index (DXY) Starts Off the Week with a Move to the Downside

Frankfurt (April 17)  The US Dollar Index (DXY) is lower in today’s trading, currently holding near 100.27, a decline of 0.24% from Friday’s close.

Support is at the 100.00 level, which was tested and held last Thursday. This level also represents a 50% retracement of the advance from the March low. On a drop below this retracement level, the target would become the 61.8% retracement, which comes in near the 99.80 level.

With the Stochastic, a price momentum indicator moving lower but still well above an oversold level, the current bias for DXY is to the downside.

In the US today, the NY Empire State Manufacturing Index will be released at 08:30 ET. This will be followed by the NAHB Housing Market Index for April at 10:00 ET.

Housing Starts and Building Permits will be released at 08:30 ET on Tuesday, April 18th. This will be followed by Industrial Production and Capacity Utilization at 09:15 ET.

Source: EconomicCalendar