- The greenback is marginally down today around the 93.30 region.
- Yields of the US 10-year note in multi-year tops near 3.12%.
- US Philly Fed manufacturing index next of relevance in the docket.
The greenback, in term of the US Dollar Index (DXY), is prolonging the downbeat momentum although it keeps the trade above the 93.00 handle.
US Dollar looks to data, yields
The index is down for the second session in a row on Thursday, coming under fresh selling pressure after hitting fresh YTD tops in the 93.60/65 band yesterday.
The buck is correcting lower despite yields of the key US 10-year benchmark is navigating the area of multi-year tops around 3.12%, levels last traded in the summer of 2011.
Later in the NA session, the Philly Fed manufacturing index is due seconded by the usual weekly report on the labour market and speeches by Minneapolis Fed N.Kashkari (non voter, dovish) and Dallas Fed R.Kaplan (non voter, hawkish).
US Dollar relevant levels
As of writing the index is losing 0.05% at 93.33 and a breakdown of 92.92 (10-day sma) would aim for 92.59 (23.6% Fibo of 89.23-93.45) and finally 92.24 (low May 13). On the other hand, the next resistance at 93.63 (2018 high May 16) followed by 94.22 (high Dec.11 2017) and then 94.27 (high Oct.5 2017).
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