Dollar DXY Index rises to 93.70 pending US data.

Get real time updates directly on you device, subscribe now.

  • DXY regains some composure and retests 93.70.
  • US 10-year yields again faltered above 1.67%.
  • Weekly jobless claims and the Philadelphia Fed manufacturing index are the relevant data for the day.

The greenback, in terms of US Dollar Index (DXY), seeks to finally regain buying interest and leave behind the current negative streak of several sessions.

US dollar index focuses on returns and data

The index posted modest gains in early European morning after six consecutive daily declines. The moderate bearish momentum has so far met with fairly decent containment around the 93.50 zone.

Price action around the dollar has been under pressure following improved risk appetite in past sessions, while the lack of sustainability in the recent upward movement in US yields also put downward pressure on the dollar.

Later on the US calendar, the Philadelphia Fed’s weekly jobless claims and manufacturing index will take center stage, supported by existing home sales and the speech by FOMC Governor C. Waller (permanent voter, centrist).

Relevant levels of the US Dollar Index

Now the index is gaining 0.05% at 93.64 and a break above 94.17 (weekly high on Oct 18) would open the door to resistance 94.56 (2021 high recorded on Oct 12) and then 94.74 (monthly high). September 25, 2020).

On the other hand, the first support to the downside stands at 93.49 (monthly low of October 21), followed by 93.24 (55-day SMA) and finally 92.98 (weekly low of September 23).

.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.