DXY loses some upside traction near 96.70. US 10-year yields drop to lows around 2.74%. US-China potential trade deal keeps driving sentiment. The upside momentum in the greenback appears to have met a strong resistance in the boundaries of 96.70 when tracked by the US Dollar Index (DXY). US Dollar Index keeps the focus on trade, data In the meantime, the index is advancing for the fourth consecutive session so far on Monday amidst increasing hopes that China and the US could clinch a deal over the trade dispute in the (very?) near term. The upside bias in the buck remains unchanged despite another attack from President Trump to the current Fed’s monetary policy over the weekend, adding that the Dollar remains ‘too strong’. No data releases today in the US docket should leave the attention to the broad risk-appetite trends when comes to determine the price action in the global markets. The next significant publication will be tomorrow’s ISM Non-manufacturing along with data from the housing sector. What to look for around USD The US-China trade talks remain in centre stage amidst auspicious comments from both parties and are expected to keep ruling the sentiment ahead of the Trump-Xi meeting later in the month. The greenback is also expected to stay somewhat cautious on fresh criticism by Trump to the Fed’s monetary policy and the level of the buck. However, the health of the US economy has come back to the fore following auspicious results from the Q4 GDP and other key indicators as of late, which appear to have not only motivated USD bulls to return to the markets but also poured cold water over speculations of a potential halt of the Fed’s tightening cycle. US Dollar Index relevant levels At the moment, the pair is gaining 0.18% at 96.61 and a break above 96.70 (high Mar.4) would open the door to 96.79 (23.6% Fibo of the September-December up move) and finally 97.37 (2019 high Feb.15). On the flip side, initial contention emerges at 95.82 (low Feb.28) seconded by 95.66 (200-day SMA) and then 95.16 (low Jan.31). 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 USD/CHF retreats to parity, eyes on Wall Street FX Street 4 years DXY loses some upside traction near 96.70. US 10-year yields drop to lows around 2.74%. US-China potential trade deal keeps driving sentiment. The upside momentum in the greenback appears to have met a strong resistance in the boundaries of 96.70 when tracked by the US Dollar Index (DXY). US Dollar Index keeps the focus on trade, data In the meantime, the index is advancing for the fourth consecutive session so far on Monday amidst increasing hopes that China and the US could clinch a deal over the trade dispute in the (very?) near term. The upside bias in the buck… 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.
