- The index stays sidelined around the 94.00 handle on Tuesday.
- US 10-year yields tested highs near 2.95% in early trade.
- US ISM Non-manufacturing next of relevance in the docket.
The greenback, measured by the US Dollar Index (DXY), is alternating gains with losses on Monday around the 94.00 neighbourhood.
US Dollar focused on risk trends, data
The index appears to have recovered the smile following Monday’s pullback, coming up from the 93.70 region and regaining the 94.00 milestone amidst rising US yields and alternating trends in the risk appetite.
In addition, yields of the key US 10-year note have eased a tad from recent tops in the vicinity of 2.95% and stay consolidative around 2.93% for the time being.
Furthermore, it seems the key meeting between President Trump and North Korean leader Kim Jong-un will finally take place in Singapore on June 12, allaying some initial concerns.
Later in the NA session, the NFIB and the IBD/TIPP indexes are due ahead of the publication of the Non-manufacturing gauge from the ISM for the month of May.
US Dollar relevant levels
As of writing the index is losing 0.02% at 94.01 and a breach of 93.72 (low May 31) would aim for 93.64 (23.6% Fibo of the April-June up move) and then 93.63 (21-day sma). On the other hand, the immediate hurdle is located at 94.45 (high May 31) followed by 95.01 (2018 high May 29) and finally 95.15 (monthly highs Oct/Nov. 2017).
Share
