DXY loses further ground and breaches 93.00 on Friday. US Senate said Trump cannot postpone November elections. PCE, Personal Income/Spending, U-Mich index next in the docket. The greenback, when tracked by the US Dollar Index (DXY), is losing further ground and trades in levels last seen in May 2018 around 92.60. US Dollar Index looks to data, politics The index intensified the decline following the dovish note at the FOMC meeting on Wednesday, when the Committee showed increasing concerns of the impact of the coronavirus pandemic on the economy, leaving at the same time the door wide open to extra stimulus in case of need. The mood around the buck deteriorated further after Thursday’s docket showed the economy is expected to contract nearly 33% during the April-June period, a historic drop. Adding to the sour momentum, yields of the US 10-year benchmark have dropped to the area below 0.53%, last traded in April. In the US calendar, inflation figures measured by the Core PCE are due next followed by Personal Income/Spending and the final print of the Consumer Sentiment for the month of July. What to look for around USD The dollar remains under heavy pressure and receded to levels last traded over two years ago in the sub-93.00 zone, as investors keep the bearish stance on the currency unchanged against the usual backdrop of US-China geopolitical jitters, the spread of the pandemic and the dovish message from the Fed, all gauged against efforts to return to a somewhat normal economic activity. Also weighing on the buck, market participants seem to have shifted their preference for other safe havens instead of the greenback on occasional bouts of risk aversion. On another front, the speculative community kept adding to the offered note around the dollar for yet another week, opening the door to a potential development of a more serious bearish trend in the dollar. US Dollar Index relevant levels At the moment, the index is losing 0.36% at 92.62 and faces the next support at 92.56 (2020 low Jul.31) seconded by 91.80 (monthly low May 18) and finally 89.23 (monthly low April 2018). On the flip side, a break above 94.20 (38.2% Fibo of the 2017-2018 drop) would open the door to 96.03 (50% Fibo of the 2017-2018 drop) and finally 96.83 (55-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 Silver Price Analysis: XAG/USD probes short-term triangle resistance above $23.50 FX Street 3 years DXY loses further ground and breaches 93.00 on Friday. US Senate said Trump cannot postpone November elections. PCE, Personal Income/Spending, U-Mich index next in the docket. The greenback, when tracked by the US Dollar Index (DXY), is losing further ground and trades in levels last seen in May 2018 around 92.60. US Dollar Index looks to data, politics The index intensified the decline following the dovish note at the FOMC meeting on Wednesday, when the Committee showed increasing concerns of the impact of the coronavirus pandemic on the economy, leaving at the same time the door wide open to extra… 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.