- The index reverts the initial drop and is now printing tops near 96.60.
- Yields of the US 10-year note lost momentum near 3.14%.
- US Durable Goods Orders expanded at a monthly 0.8%.
The greenback, in terms of the US Dollar Index (DXY), has managed to leave behind the initial negative tone and is now navigating fresh 2-month tops around 96.60.
US Dollar Index bounces off 96.20
After dropping to lows in the proximity of 96.20, the buck regained buying interest and managed to not only revert the downside but also to advance to fresh multi-week peaks in the 96.60 region amidst a poor performance in the risk-associated space.
In the data sphere, US headline Durable Goods Orders expanded more than expected 0.8% MoM in September, while Core Orders rose 0.1% inter-month, below consensus. Further data saw Goods Trade deficit widening to $76.04 billion, Initial Claims rising at a weekly 215K and Pending Home Sales expanding at a monthly 0.5% during last month.
US Dollar Index relevant levels
As of writing the index is gaining 0.15% at 96.57 facing the next hurdle at 96.63 (high Oct.25) seconded by 96.98 (2018 high Aug.13) and finally 97.87 (61.8% Fibo of the 2017-2018 drop). On the downside, a breakdown of 95.71 (10-day SMA) would open the door to 95.57 (21-day SMA) and finally 94.79 (low Oct.12).
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