DXY keeps the range around 98.30/40. US flash trade deficit shrunk more than expected in September. CB’s Consumer Confidence expected later in the session. The US Dollar Index (DXY), which gauges the buck vs. a bundle of its main competitors, remains sidelined so far this week above the key 98.00 mark. US Dollar Index within range, looks to trade, data The upside momentum in the greenback remains firm for the sixth session in a row on Tuesday. The rally in the buck motivating the index to trade at shouting distance from monthly peaks in the boundaries of 98.50, all against the backdrop of some auspicious headlines from the US-China trade scenario and despite lower US yields. Positive results from the advanced trade balance figures in October plus the improvement in house prices measured by the S&P/Case-Shiller index have also collaborated with the better mood in the dollar. Later in the session, all the attention will be on the Consumer Confidence measure ahead of New Home Sales. What to look for around USD The index keeps the topside well and sound so far this week amidst the noticeable absence of headlines from the trade front. In the meantime, and apart from the trade issue, investors keep monitoring US fundamentals amidst the ‘wait-and-see’ stance from the Fed. Moving to US politics, the Trump’s impeachment process remains underway although with muted impact on the FX space for the time being. On the broader view, however, the outlook on the greenback still looks constructive on the back of a cautious Fed vs. the broad-based dovish stance from its G10 peers, the dollar’s safe haven appeal and the status of ‘global reserve currency’. US Dollar Index relevant levels At the moment, the pair is up 0.07% at 98.35 and faces the next support at 98.06 (100-day SMA) seconded by 97.68 (low Nov.18) and finally 97.58 (200-day SMA). On the flip side, a breakout of 98.45 (monthly high Nov.13) would open the door to 99.25 (high Oct.8) and then 99.67 (2019 high Oct.1). 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 EUR/USD Technical Analysis: Euro easing from daily highs, trading sub-1.1020 level FX Street 3 years DXY keeps the range around 98.30/40. US flash trade deficit shrunk more than expected in September. CB's Consumer Confidence expected later in the session. The US Dollar Index (DXY), which gauges the buck vs. a bundle of its main competitors, remains sidelined so far this week above the key 98.00 mark. US Dollar Index within range, looks to trade, data The upside momentum in the greenback remains firm for the sixth session in a row on Tuesday. The rally in the buck motivating the index to trade at shouting distance from monthly peaks in the boundaries of 98.50, all against… 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.
