- The greenback is now accelerating the downside to 93.30.
- US 10-year yields trading closer to the 3.0% level.
- US Initial Claims next on tap later in the NA session.
The greenback, in terms of the US Dollar Index (DXY), has collapsed to fresh multi-day lows in the 93.30 region.
US Dollar weaker on ECB story
The index is down for the fourth consecutive session on Thursday, recording at the same time new 3-week lows and prolonging the downside after late-April fresh cycle tops in levels just above 95.00 the figure.
The buck remains well on the defensive so far this week, as speculations that the ECB could hint at some sort of strategy to exit its ‘quantitative easing’ programme at its meeting next week keep lending support to EUR/USD, which has already gained more than 3 cents since last week’s lows near 1.1500 the figure.
In the US docket, the weekly report on the labour market will be the only publication today.
US Dollar relevant levels
As of writing the index is losing 0.38% at 93.27 and a breakdown of 93.12 (low May 13) would aim for 92.80 (38.2% Fibo of the April-June up move) and then 92.24 (low May 13). On the upside, the next hurdle emerges at 93.65 (21-day sma) followed by 94.02 (10-day sma) and finally 94.45 (high May 31).
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