US Dollar clinches tops above 95.00 ahead of data

  • The index moves higher and breaks above the 95.00 mark.
  • US 10-year yields tumble to lows in sub-2.84% zone.
  • Advanced U-Mich index next of relevance in the docket.

The greenback, in terms of the US Dollar Index (DXY), is extending its march north at the end of the week beyond the critical handle at 95.00 the figure.

US Dollar looks to trade, data

The index has advanced in all of the last five sessions, reclaiming the 95.00 milestone and above amidst the effervescence in the US-China trade front and jittery comments from President Trump at his visit in Europe.

The buck has been gathering extra traction in a context where the risk-on sentiment continues to prevail, motivating a persistent sell off in the Japanese Yen and thus a sharp upside in USD/JPY.

On the other side, the up move in DXY appears decoupled from the performance of yields of the key US 10-year note, which area now trading in session lows and challenging the 2.84% area.

In the US data space, Export/Import Prices are due next preceding the more relevant flash gauge of the US Consumer Sentiment for the current month.

US Dollar relevant levels

As of writing the index is up 0.35% at 95.11 facing the next resistance at 95.21 (200-week SMA) seconded by 95.53 (2018 high Jun.28) and finally 96.51 (high Jul.5 2017). On the downside, a breach of 94.68 (21-day sma) would target 94.48 (10-day sma) and then 94.04 (23.6% Fibo of the April-June up move).

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