- The index moves higher and retests the 96.00 handle on Friday.
- Yields of the key US 10-year note met resistance around 3.19% today.
- US Existing Home Sales, Fed-speak next on the docket.
The US Dollar Index (DXY), which tracks the greenback vs. a basket of its main rivals, is extending the weekly recovery to levels above the 96.00 mark.
US Dollar Index looks to data, risk trends
The index is up for the fourth session in a row on Friday, extending the rebound from Tuesday’s weekly lows in the 94.80 region and regaining the critical hurdle at 96.00 the figure.
The up move in the buck comes along some recovery in yields of the key US 10-year note, although they are navigating below last week’s tops beyond 3.25%.
Renewed jitters around Italy, omnipresent uncertainty surrounding the Brexit talks, US-China trade concerns and the recent depreciation of the Chinese Yuan have all been collaborating with the better tone in the greenback.
Later in the session, US Existing Home Sales for the month of September will be the sole release in the docket along with speeches by Atlanta Fed R.Bostic (voter, centrist) and Dallas Fed R.Kaplan (non voter, centrist).
US Dollar Index relevant levels
As of writing the index is up 0.01% at 95.99 facing the next hurdle at 96.09 (high Oct.19) seconded by 96.16 (high Oct.9) and then 96.98 (2018 high Aug.13). On the flip side, a breakdown of 95.48 (10-day SMA) would open the door to 95.22 (21-day SMA) and finally 94.79 (low Oct.12).
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