- The greenback trades in session tops in the 94.30/35 band.
- US 10-year yields find support around the 2.90% area.
- US ISM Non-manufacturing came in above expectations at 58.6
The US Dollar Index (DXY), which tracks the buck vs. its main rivals, has reverted the initial negative mood and is now flirting with daily highs around 94.30.
US Dollar bid on data
The index advanced further today following auspicious results from the US calendar, moving to the vicinity of 94.30, or daily peaks.
In fact, Markit’s Services PMI came in at 56.8 in May (vs. 55.7 exp.), JOLTs Job Openings surprised to the upside in April at 6.698 million and the critical ISM Non-manufacturing rose to 58.6 during last month, also beating initial estimates.
The index thus faded yesterday’s drop and is now trading in green figures in the week, finding decent contention in the 93.70/65 band, area coincident with the 21-day sma, Monday’s low and the 23.6% Fibo of the May-June rally.
US Dollar relevant levels
As of writing the index is up 0.24% at 94.26 facing the next hurdle at 94.45 (high May 31) followed by 95.01 (2018 high May 29) and finally 95.15 (monthly highs Oct/Nov. 2017). On the flip side, a breakdown 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).
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