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  • The index manages to keep business above the key 96.00 mark.
  • US 10-year yields climb further and retake the 2.90% area.
  • US Import/Export prices next of relevance in the docket.

The US Dollar Index (DXY), which tracks the greenback vs. its main rivals, is struggling for direction around the 96.30 area.

US Dollar looks to risk trends, trade

The index manages well to keep the trade above the 96.00 milestone for the time being, always against the backdrop of rising tensions between the US and Turkey regarding trade and US pastor Brunson and the omnipresent US-China trade effervescence.

The buck continues to look to headlines from Turkey in light of the ongoing crisis surrounding the Lira as well as on the trade front. Latest news regarding the latter noted Turkey announced a boycott on US electronics goods.

On another front, yields of the key US 10-year benchmark abandoned the area of recent lows and are now approaching the 2.90% neighbourhood, as the risk-off sentiment appears somewhat alleviated.

Later in the session, US Import/Export prices are only due along with the weekly report on US crude oil supplies by the American Petroleum Institute (API).

US Dollar relevant levels

As of writing the index is losing 0.04% at 96.25 facing immediate contention at 95.39 (10-day SMA) seconded by 95.02 (21-day SMA) and finally 94.08 (low Jul.26). On the upside, a breakout of 96.31 (2018 high Aug.10) would aim for 96.51 (high Jul.5 2017) and then 97.87 (61.8% Fibo of the 2017-2018 drop).