US Dollar Index pushes higher to 96.00

The index remains bid and clinches top around 96.00.
US 10-year yields navigate the lower end of the range near 3.18%.
US Chicago Fed National Activity index came in at 0.17 in September.

Pablo Piovano FXStreet

In terms of the US Dollar Index (DXY), the greenback has managed to leave behind the earlier drop to the 95.50 area and has now retaken the 96.00 barrier and above.

US Dollar Index back around 96.00

Renewed disappointment around the Brexit negotiations gave sellers and excuse to return to the markets after the initial positive start of the week, hurting the sentiment around the risk-associated complex and pushing the buck higher.

In fact, the index is re-visiting the 96.00 neighbourhood in another attempt to move above so far monthly peaks beyond 96.00 the figure and despite the weak performance of US yields.

Data wise in the US docket, the Chicago Fed National Activity index came in at 0.17 for the month of September from August’s 0.27.

US Dollar Index relevant levels

As of writing the index is up 0.34% at 96.00 facing the next hurdle at 96.09 (high Oct.22) seconded by 96.16 (high Oct.9) and then 96.98 (2018 high Aug.13). On the flip side, a breakdown of 95.44 (10-day SMA) would open the door to 95.27 (21-day SMA) and finally 94.79 (low Oct.12).

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.

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