US Dollar Index climbs to multi-day highs near 92.90


  • DXY adds to recent gains and re-tests 92.90.
  • US 10-year yields eased to the area below 1.35%.
  • Short-term auctions (3m, 6m) are only due in the US docket.

The US Dollar Index (DXY), which measures the greenback vs. a basket of its rival currencies, extends the rebound and approaches the 93.00 mark at the beginning of the week.

US Dollar Index now re-targets 93.00

The index now advances for the second session in a row and navigates the area of multi-day peaks in the vicinity of the 93.00 mark at the beginning of the week.

The positive move in the dollar comes in spite of the steady/bearish performance of US yields, which so far appear capped by recent tops around 1.35% when comes to the 10-year benchmark.

No data/events scheduled in the US calendar on Monday, with only the 3m/6m Bills auctions due later in the session.

What to look for around USD

The index puts further distance from recent tops in the 92.30 zone and now re-targets the 93.00 mark once again, as higher yields and the softer sentiment in the risk complex collaborates with the ongoing recovery in the buck. In the meantime, perseverant COVID jitters, doubts surrounding the rebound in the US economic activity and inflation risks remain as key factors underpinning the dollar for the time being.

Key events in the US this week: Inflation tracked by the CPI (Tuesday) – MBA Mortgage Applications, Industrial Production (Wednesday) – Retail Sales, Initial Claims, Philly Fed Index, Business Inventories (Thursday) – Flash September Consumer Sentiment (Friday).

Eminent issues on the back boiler: Biden’s multi-billion plan to support infrastructure and families. US-China trade conflict under the Biden’s administration. Tapering speculation vs. economic recovery. US real interest rates vs. Europe. Debt ceiling debate. Geopolitical risks stemming from Afghanistan.

US Dollar Index relevant levels

Now, the index is gaining 018% at 92.80 and a break above 92.87 (monthly high Sep.13) would open the door to 93.18 (high Aug.27) and then 93.72 (2021 high Aug.20). On the flip side, the next down barrier emerges at 91.94 (monthly low Sep.3) followed by 91.78 (monthly low Jul.30) and finally 91.71 (100-day SMA).

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