US Dollar Index moves to session tops near 95.70
|- The index advances further and retests the 95.70 area, session highs.
- Yields of the US 10-year reference climb to daily highs above 3.22%.
- US Producer Prices next of relevance in the docket.
The greenback, in terms of the US Dollar Index (DXY), is now picking up pace and is testing fresh daily highs in the 95.70 region.
US Dollar looks to yields, data
The ongoing rebound in the index from recent lows in the mid-95.00s is being sponsored by a move higher in yields of the US 10-year note, which are also coming up after finding good support in the 3.20% neighbourhood on Tuesday.
The unabated uncertainty surrounding Italy plus volatility around Brexit headlines and renewed effervescence in the US-China trade front have all been lending support to the buck as of late, helping the index to remain in the upper end of the recent range.
Data wise today in the US docket, Producer Prices for the month of September will be the salient event seconded by the speech by Chicago Fed C.Evans and the weekly report on US supplies by the API.
US Dollar Index relevant levels
As of writing the index is up 0.05% at 95.73 and faces the next hurdle at 96.12 (high Oct.4) seconded by 96.98 (2018 high Aug.13) and finally 97.87 (61.8% Fibo retracement of the 2017-2018 drop). On the other hand, a break below 95.52 (low Oct.5) would aim for 95.51 (10-day SMA) and then 95.17 (55-day SMA).
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.