DXY regains composure and advances to the 99.40 area. The dollar meets firm support in the 99.00 neighbourhood so far. Initial Claims, Philly Fed index, flash PMIs next of relevance in the docket. The greenback, when tracked by the US Dollar Index (DXY), has managed to regain some poise after bottoming out in the 99.00 region late on Wednesday. US Dollar Index now looks to data The index regained some buying interest and is reversing three consecutive daily pullbacks on Thursday, retaking at the same time the 99.30/40 band. The leg lower in the greenback came after the dollar was once again rejected from the mid-100.00s on Monday, all amidst the improved sentiment in the risk-associated assets which was in turn supported by positive headlines of a potential vaccine against the coronavirus and the persistent and gradual re-opening of the US economy. Later in the session, the weekly report on the labour market will take centre stage seconded by the Philly Fed index and advanced PMIs from Markit for the month of May. What to look for around USD The greenback has started the week on a negative fashion, falling below the 100.00 mark on Monday on the back of the resumption of the risk-on sentiment in the global markets. In the meantime, the dollar remains vigilant on the US-China trade front and the gradual return to some sort of normality in the US economy. On the constructive stance around the buck, it remains the safe haven of choice among investors, helped by its status of global reserve currency and store of value. The dollar also derived extra support after Fed’s Jerome Powell recently ruled out negative rates. US Dollar Index relevant levels At the moment, the index is gaining 0.16% at 99.33 and a break above 100.56 (monthly high May 14) would open the door to 100.93 (weekly/monthly high Apr.6) and finally 101.34 (monthly high Apr.10 2017). On the other hand, the next support emerges at 99.00 (weekly low May 20) followed by 98.91 (100-day SMA) and then 98.47 (200-day SMA). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD flirts with daily lows, just above mid-0.6500s FX Street 2 years DXY regains composure and advances to the 99.40 area. The dollar meets firm support in the 99.00 neighbourhood so far. Initial Claims, Philly Fed index, flash PMIs next of relevance in the docket. The greenback, when tracked by the US Dollar Index (DXY), has managed to regain some poise after bottoming out in the 99.00 region late on Wednesday. US Dollar Index now looks to data The index regained some buying interest and is reversing three consecutive daily pullbacks on Thursday, retaking at the same time the 99.30/40 band. The leg lower in the greenback came after the dollar was… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
