US Dollar index remains bid above 97.00


  • The index is extending the up move to the vicinity of 97.00.
  • Yields of the US 10-year note drop to the 3.20% area.
  • US Producer Prices, U-Mich index next on tap.

The US Dollar Index (DXY), which gauges the greenback vs. a basket of its main rivals, has extended the upbeat tone to the 96.90 region on Friday, where met some sellers.

US Dollar Index looks to data

The index is up for yet another session, prolonging the rebound from Wednesday’s 2-week lows in the 95.70/65 band to the area just below the critical 97.00 mark.

The buck is deriving support from the continuation of the softer tone in the risk-associated universe, where the Brexit negotiations and Italian politics remain in centre stage.

Also sustaining the up move in the index, yesterday’s FOMC statement left the door open for the continuation of the tightening cycle by the Federal Reserve, with consensus among investors almost fully pricing in the fourth rate hike this year at the December meeting.

Looking ahead, October’s Producer Prices are due next seconded by the preliminary figures for US Consumer Sentiment for the current month.

US Dollar Index relevant levels

As of writing the index is gaining 0.14% at 96.79 and a breakout of 96.92 (high Nov.9) would open the door to 97.19 (2018 high Oct.31) and then 97.87 (61.8% Fibo retracement of the 2017-2018 drop). On the flip side, the next support emerges at 95.56 (10-day SMA) followed by 96.17 (21-day SMA) 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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD bouncing modestly on disappointing US Consumer Confidence

The shared currency remains pressured by the idea that the ECB will come out with massive stimulus measures in September. US Michigan Consumer Confidence down to 92.1 brakes dollar's gains.

EUR/USD News

GBP/USD retreats sharply after approaching 1.2200

The GBP/USD pair came under selling pressure after flirting with weekly highs, as a dismal US confidence report brought back risk-off. GBP/USD still up for the week and above the critical 1.2100 level.

GBP/USD News

USD/JPY: Greenback makes modest progress against Yen, near 106.30

The demand for Yen as a safe-haven currency has been weak in the last three days. The levels to beat for bulls are at the 106.30 and 106.55 resistances.

USD/JPY News

Gold gives back territory towards a 23.6% retracement

Gold prices were a touch lower by the end of the week, falling -0.68% having travelled between a high of $1,528.00 to a low of $1,503.87, ending the NY session around $1,513. 

Gold News

Four Signs of A Bear Market

I am a believer that the Universe gives you signs. That may sound a bit crazy, but these three charts are three more signs of a bear market. The top chart is the GLD exchange traded fund.

Read more

MAJORS

Cryptocurrencies

Signatures


  •  
  •  
  •  
  •  
  •