- The index remains bid near session peaks in the 94.50/60 band.
- Yields of the US 10-year note off highs, back near 2.89%.
- US Consumer Confidence came in at 126.4 for the month of June.
The US Dollar Index (DXY), which gauges the greenback vs. a basket of its main rivals, keeps the bid tone well and sound on Tuesday and trades close to daily highs in the 94.60 area.
US Dollar well supported near 94.20
The index managed to revert the initial drop to the 94.20/15 band – or multi-day lows – and has gathered traction to the 94.50/60 region, where appears well bid for the time being.
The greenback keeps the buying interest well and sound despite June’s Consumer Confidence tracked by the Conference Board came in below consensus at 126.4, also lower than May’s 128.8 (revised from 128.0). Still on the US calendar, house prices measured by the S&P/Case-Shiller Index rose at an annualized non-seasonally-adjusted 6.6% in April vs. 6.9% forecasted and March’s 6.7%.
Looking ahead, investors’ attention should remain on the US-China-EU trade dispute and the potential impact on the risk-off sentiment in the global markets.
US Dollar relevant levels
As of writing the index is gaining 0.34% at 94.62 facing the initial barrier at 95.30 (high Jun.20) seconded by 95.53 (2018 high Jun.22) and finally 96.51 (high Jul.4 2017). On the downside, a breakdown of 94.18 (low Jun.26) would target 94.04 (23.6% Fibo of the April-June up move) en route to 93.19 (low Jun.13).
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