News

US Dollar Index drops to lows near 95.50

  • The index fades the initial optimism and eases to 95.50.
  • Yields of the US 10-year note return above 3.21%, fresh peaks.
  • US Initial Claims and Philly Fed index next of relevance in the docket.

The greenback, in terms of the US Dollar Index (DXY), is now fading the initial spike to the vicinity of 95.80 and returns to the mid-95.00s.

US Dollar Index looks to data

The upside momentum in the index gathered extra oxygen as of late after the FOMC minutes signaled on Wednesday that further tightening remains well on the cards by the Federal Reserve. In addition, the minutes discarded any influence on the Committee by recent comments by President Trump.

The buck moved higher in tandem with yields of the key US 10-year note, which managed to climb back to levels above 3.21%, recording at the same time fresh multi-day peaks.

In the data sphere today, the usual weekly report on the labour market is due seconded by the always-relevant Philly Fed index. Attention, as well, should be on the EU Leaders Summit, which kicks in today with Brexit in centre stage.

US Dollar Index relevant levels

As of writing the index is losing 0.14% at 95.50 and a breakdown of 95.41 (10-day SMA) would open the door to 95.10 (21-day SMA) and finally 94.79 (low Oct.12). On the flip side, the initial up barrier lines up at 95.77 (high Oct.18) seconded by 96.16 (high Oct.9) and then 96.98 (2018 high Aug.13).

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.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.