FXstreet.com (Barcelona) - The US Dollar Index, which gauges the greenback against its major competitors, is posting marginal gains on Wednesday, eyeing the Fed’s Beige Book. Market consensus expects the tone to be optimistic, which can spark a higher correction in the greenback.
Data-wise in the US, Wholesale Inventories rose 0.5% during August, matching forecasts although lower than July’s +0.6%. Next on tap the mentioned Beige Book preceding speeches by Fed’s members N.Kocherlakota, Tarullo and Fisher.
As of writing, the index is marginally down 0.03% at 80.02 and according to tradingcentral.com the next support levels lie at 79.80 followed by 79.60 and 79.50
On the flip side, a breakout of 80.15 would expose 80.40 and 80.75
