US Dollar clinches highs near 95.60 ahead of US PCE
The greenback, tracked by the US Dollar Index, is extending its upside momentum to session peaks in the vicinity of 95.60.
US Dollar focus on US data
The index remains on a firm fashion at the beginning of the week, boosted by the recent hawkish tone from Chair Yellen at the Jackson Hole Symposium as well as supportive Fedspeak for a rate hike in the next months.
USD has advanced to fresh 2-week tops well above the 95.00 handle and remains well poised to challenge August’s tops in the mid-96.00s should the up trend gathers further impulse.
Later in the NA session, US inflation figures gauged by the PCE for the month of July area due along with Personal Spending/Income and the Dallas Fed Manufacturing index.
US Dollar relevant levels
The index is up 0.04% at 95.61 with the next hurdle at 96.37 (200-day sma) ahead of 96.50 (high Aug.5) and finally 96.86 (high Jun.27). On the other hand, a breakdown of 95.26 (20-day sma) would aim for 95.14 (100-day sma) and then 94.05 (low Aug.18).
Author
Pablo Piovano
FXStreet
Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.
