US Dollar trims gains, eases to 97.80 ahead of data
|The greenback, in terms of the US Dollar Index, is posting moderate losses on Wednesday around the 95.85/80 band.
US Dollar attention to data, Fedspeak
The index is giving away part of yesterday’s gains although it so far manages to keep the trade in the upper end of the recent range below the key barrier at 98.00 the figure.
USD met some downside pressure after US inflation figures have failed to exceed expectations during September, although speculations on a Fed’s move by year end keep the sentiment around the buck practically unchanged.
Later in the NA session, the US housing sector will be in the limelight via the releases of MBA’s Mortgage Applications, Building Permits and Housing Starts, all preceding the Fed’s Beige Book.
In addition, speeches by San Francisco Fed J.Williams (2018 voter, neutral), Philly Fed P.Harker (2017 voter, hawkish) and Dallas Fed R.Kaplan (2017 voter, neutral) will keep the attention around USD.
US Dollar relevant levels
The index is down 0.09% at 97.81 and a break below 97.47 (low Oct.12) would target 96.52 (20-day sma) and finally 95.87 (200-day sma). On the other hand, the next up barrier lines up at 98.59 (high Mar.3) followed by 99.95 (high Jan.21) and then 100.60 (high Dec.3).
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