- The index is looking to advance further and retest the 97.00 area.
- Yields of the US 10-year note rebound to the 2.88% zone.
- US Non-farm Payrolls next of relevance in the docket.
The US Dollar Index (DXY), which tracks the buck vs. a basket of its main rivals, is trading on a better tone and is getting closer to 97.00 the figure.
US Dollar Index looks to risk trends, data
The index is extending the choppy trade so far this week, although a breakout of the critical 97.00 mark still remains elusive, all amidst alternating trends in the global risk appetite.
Bullish attempts in the buck appear somewhat capped following recent dovish comments from FOMC officials, while rumours and counter-rumours on the US-China trade dispute/truce keep adding volatility to the market.
Later in the session, the usual monthly report on US labour market is due, with market consensus expecting the US economy to have created 200K jobs during November and wages to have risen 0.3% inter-month.
US Dollar Index relevant levels
As of writing the index is up 0.11% at 96.87 and a break above 97.00 (10-day SMA) would expose 97.53 (high Nov.28) and then 97.69 (2018 high Nov.12). On the flip side, immediate contention emerges at 96.38 (low Dec.4) followed by 96.04 (low Nov.20) and finally 95.68 (low Nov.7).
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.