US dollar index refreshes four-month highs

  • US dollar index prints a high of 99.14 to hit the highest level since mid-October. 
  • The greenback continues to attract safe-haven flows amid coronavirus scare and growth concerns. 

The US dollar index (DXY), which tracks the value of the greenback against most majors, has risen to a fresh four-month high of 99.14, surpassing the previous high of 99.11 reached on Thursday. 

The greenback continues to attract haven flows amid the signs of a slowdown in the Eurozone and increased fears of global growth slowdown due to coronavirus outbreak. 

More importantly, the US economy looks to be on a stable footing, as highlighted by last week's Nonfarm Payrolls report. The data showed the economy added 225K jobs in January, beating the Wall Street estimates for a 158K gain by a big margin. Further, average hourly earnings rose 3.1% over a year ago, beating the estimate for 3% growth. 

Focus on Eurozone and US data

The German data due at 07:00 GMT is expected to show the economy expanded by 0.1% quarter-on-quarter in the final three months of 2019. Meanwhile, the Eurozone GDP for the fourth quarter is expected to come in at an unchanged quarter-on-quarter reading of 0.1%. 

A weaker-than-expected German GDP would bolster recession fears, boosting haven flows into the US dollar

The dollar may also find love if the US January retail sales, due at 13:30, better the estimated growth of 3%. Post-retail sales, the focus would shift to the Industrial Production data. 

Technical levels

Dollar Index Spot

Today last price 99.12
Today Daily Change 0.01
Today Daily Change % 0.01
Today daily open 99.11
Daily SMA20 98.1
Daily SMA50 97.59
Daily SMA100 97.86
Daily SMA200 97.77
Previous Daily High 99.11
Previous Daily Low 98.85
Previous Weekly High 98.71
Previous Weekly Low 97.44
Previous Monthly High 98.19
Previous Monthly Low 96.42
Daily Fibonacci 38.2% 99.01
Daily Fibonacci 61.8% 98.95
Daily Pivot Point S1 98.94
Daily Pivot Point S2 98.76
Daily Pivot Point S3 98.68
Daily Pivot Point R1 99.2
Daily Pivot Point R2 99.28
Daily Pivot Point R3 99.46



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD: Growth concerns to keep weighing on the sentiment

The EUR/USD pair closed a second consecutive week unchanged around 1.1840, as the dollar got to appreciate ahead of the close on upbeat US data combined with risk-off. Sluggish global economic growth to keep weighing on the market’s sentiment.


GBP/USD: Brexit deal and coronavirus second wave leading the way

The GBP/USD pair stalled its weekly recovery on Friday, ending the day in the red at around 1.2915. Mild hopes related to a post-Brexit trade deal with the EU provided modest support to Sterling earlier in the week.


Gold: Next week's key macroeconomic events to keep an eye on

The troy ounce of the precious metal closed the week modestly higher at $1,950 but struggled to make a decisive move in either direction. Following its September policy meeting, the Federal Reserve kept its policy rate unchanged as ...

Gold News

It was the best of times, It was the worst of times

Economic reports from most of the major economies show the pace of the recovery has slowed.  In the same way, the recovery began before the end of the  Q2, the loss of economic momentum was seen as early as July in some series and August in others.

Read more

After yesterday's JMMC meeting WTI settles near $40 per barrel

WTI has been through a rollercoaster this week. The liquid gold has been in a downtrend leading into the OPEC+ JMMC meeting and then reversed the whole move. At the meeting the group agreed to extend the compensation period for overproduction till the end of December. 

Oil News