- The index sticks to daily gains in t he 95.40 region.
- US 10-year yields drop and clinch lows near 2.81%.
- Markit’s flash manufacturing PMI came in at 54.5 in August.
The greenback, in terms of the US Dollar Index (DXY) keeps the upbeat so far although it struggles to advance further north of the 95.50 area for the time being.
US Dollar Index well supported near 95.00
The index is finally posting some gains after dropping to fresh multi-day lows earlier in the week, all amidst a better tone in the risk-on complex, Trump’s negative comments on the Fed’s policy and recent headlines from the US political arena involving President Trump.
In the data space, Markit’s advance manufacturing gauge is expected to come in a tad lower than expectations for the current month, at 54.5. Earlier in the session, Initial Claims rose by 210K WoW, taking the 4-week Average to 213.75K from 215.50K.
Additional data saw New Home Sales contracted 1.7% MoM in July or 627K units.
US Dollar relevant levels
As of writing the index is up 0.26% at 95.35 and a break above 95.49 (high Aug.23) would aim for 96.06 (10-day SMA) and then 96.98 (2018 high Aug.15). On the downside, the next support aligns at 94.93 (low Aug.22) seconded by 94.92 (55-day SMA) and finally 94.08 (low Jul.26).
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