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US Dollar parked in the mid-99.00s

The US Dollar Index – which gauges the buck vs. its main rivals – remains entrenched in the negative territory, although it has managed at least to rebound from daily lows near 99.30.

US Dollar weaker post-data

The selling sentiment around the buck has returned on Thursday after yesterday’s bullish attempt, leaving intact the broader bearish note that has been prevailing since last week and was intensified following President Trump’s comments on Friday.

USD remains unable to attempt any sustainable bounce despite yields in the US money markets stay on the rise for the second session in a row. In fact, the 10-year reference has regained the vicinity of the 2.25% level, coming up from fresh YTD lows near 2.16% recorded on Tuesday.

The greenback found no excuses to advance from the data space either, where the manufacturing gauge from the Philly Fed missed expectations and Initial Claims rose more than initially estimated on the week to April 14.

US Dollar relevant levels

The index is losing 0.28% at 99.43 facing the next support at 99.29 (low Apr.20) followed by 98.97 (200-day sma) and finally 98.67 (2017 low Mar.27). On the flip side, a break above 100.04 (38.2% Fibo of the March drop) would aim for 100.11 (20-day sma) and then 100.61 (55-day sma).

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Pablo Piovano

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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