DXY reverses Thursday’s pullback and move to the 98.40 region. Yields of the US 10-year note climb to the 1.64% area. Chief Powell will speak at Jackson Hole later today. The greenback, when tracked by the US Dollar Index (DXY), is leaving behind Thursday’s negative price action and it has refocused on the upper end of the range near 98.40. US Dollar Index now looks to Powell The index has managed to regain buying interest following yesterday’s drop on the back of another inversion of the 2y-10y yield curve and deteriorating sentiment after the US advanced manufacturing PMI is expected to slip back into contraction territory after years (49.9). There is no news on the US-China trade front other than new frictions and contradictions around the tech giant Huawei. Later in the day, Chief J.Powell will speak at the Jackson Hole Symposium, although there will be no Q&A session afterwards. In the docket, New Home Sales will the sole publication later today. What to look for around USD The main focus this week will be on the Jackson Hole Symposium as well as on any hint on the Fed’s plan for the next months regarding interest rates and the outlook of the US economy. In the meantime, trade concerns, while still unabated and in combination with the inversion of the yield curve, carry the potential to spark further ‘insurance cuts’ by the Federal Reserve and thus undermine the constructive prospects of the buck in the next months. Opposed to this view emerges the Greenback’s safe have appeal, the status of ‘global reserve currency’, so far solid US fundamentals vs. overseas economies and the less dovish stance from the Federal Reserve (as per the latest FOMC event). US Dollar Index relevant levels At the moment, the pair is gaining 0.13% at 98.34 and faces the next up barrier at 98.45 (high Aug.20) followed by 98.93 (2019 high Aug.1) and the 99.89 (monthly high May 2017). On the other hand, a break below 97.95 (low Aug.21) would aim for 97.21 (low Aug.6) and then 96.99 (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 Forex Today: RBNZ’s Orr rescues Kiwi amid weaker Yuan; focus on Powell FX Street 4 years DXY reverses Thursday's pullback and move to the 98.40 region. Yields of the US 10-year note climb to the 1.64% area. Chief Powell will speak at Jackson Hole later today. The greenback, when tracked by the US Dollar Index (DXY), is leaving behind Thursday's negative price action and it has refocused on the upper end of the range near 98.40. US Dollar Index now looks to Powell The index has managed to regain buying interest following yesterday's drop on the back of another inversion of the 2y-10y yield curve and deteriorating sentiment after the US advanced manufacturing PMI is expected… 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.
