- The index trades within a narrow range, around 94.50.
- US 10-year yields trading a tad below the 3.00% handle.
- Focus remains on US-China trade dispute and fresh tariffs.
In terms of the US Dollar Index (DXY), the greenback struggles for direction on Tuesday and navigates in the mid-94.00s after probing lows near 94.30.
US Dollar Index looks to trade, data
The index is losing ground for the second session in a row today, shedding further ground after testing the boundaries of 95.00 the figure last Friday and at the same time prolonging the breakdown of the key short-term support line.
The greenback paid little attention to the recently announced implementation of 10% tariffs on $200 billion of US imports from China, which could be incremented to 25% in 2019 in case of a no-deal between China and the US in the next months.
In the US data space, TIC Flows are coming up next seconded by the NAHB index and the weekly report on US crude oil supplies by the API.
US Dollar Index relevant levels
As of writing the index is losing 0.02% at 94.4507 facing the next support at 94.35 (low Sep.18) seconded by 94.20 (38.2% Fibo of the 2017-2018 drop) and then 94.08 (low Jul.26). On the flip side, a break above 95.00 (high Sep.14) would target 95.05 (55-day SMA) en route to 95.74 (high Sep.4).
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