- The index fades the up tick to the 95.50/55 band, YTD peaks.
- Yields of the US 10-year note sidelined around 2.83%/2.84%.
- US Q1 GDP figures and Initial Claims next of relevance later.
The upbeat momentum remains well and sound around the greenback and is now lifting the US Dollar Index (DXY) to the area of 2018 tops in the 95.50/55 band.
US Dollar looks to data, trade
The index is advancing for the third session in a row on Thursday backed by easing trade tensions, a softer tone in the risk-associated complex and despite the persistent decline in US yields.
In fact, yields of the US 10-year reference have dropped to the 2.83% neighbourhood earlier in the session, where they are now looking to rebound/consolidate.
Trade effervescence on the US-China-EU front appears somewhat alleviated in recent hours, also collaborating with the resumption of the up trend in the buck.
Later in the session, another revision of the US GDP for the January-March period is due along with the usual weekly report on the labour market. In addition, FOMC’s Bullard and Bostic are also due to speak.
US Dollar relevant levels
As of writing the index is up 0.09% at 95.41 facing the next hurdle at 95.53 (2018 high Jun.28) followed by 96.00 (psychological level) and then 96.51 (high Jul.4 2017). On the other hand, a breakdown of 94.86 (10-day sma) would expose 94.34 (21-day sma) and finally 94.17 (low Jun.26).
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