The index stays well into the negative territory near 97.50. US 10-year yields climb to daily highs around 2.55%. CB’s Consumer Confidence, Pending Home Sales next on tap. The greenback is sharply lower vs. its rivals on Tuesday, with the US Dollar Index (DXY) dropping to new 5-day lows near 97.50. US Dollar Index focused on US data The index is prolonging the leg lower after being rejected from 2019 highs in the 98.30/35 band in the second half of last week. The down move has picked up pace after Friday’s advanced Q1 GDP figures noted the absence of traction in inflation. Adding to the sour mood around the buck, recent positive results in the euro docket – where MEU GDP and German CPI surprised to the upside – have been also sponsoring extra inflows into the riskier assets in detriment of the greenback. In the US data space, house prices tracked by the S&P/CS Index saw prices rising at an annualized non-seasonally-adjusted 3.0% in February, while Pending Home Sales for the month of March and the Conference Board’s gauge of Consumer Confidence in April are coming up next. What to look for around USD The upbeat momentum around the greenback has eased after reaching fresh 2019 highs in the 98.30 region during last week. Despite the backdrop of auspicious date releases in past weeks, the lack of traction in inflation has poured cold water over the recent optimism and has emerged as a key driver to follow by market participants in the next months. Despite the latest FOMC minutes reinforced the neutral/data-dependent stance from the Fed, a rate hike this year is not entirely off the table yet. Further support for the buck is expected to come in the form of overseas weakness, its safe haven appeal, favourable yield spreads vs. its peers and the status of global reserve currency. Despite further progress in the US-China trade talks carries the potential to somewhat undermine the positive outlook on USD in the near term, rising scepticism among investors should mitigate bouts of optimism surrounding this event. US Dollar Index relevant levels At the moment, the pair is retreating 0.31% at 97.55 and a breach of 97.35 (21-day SMA) would open the door to 97.26 (low Apr.22) and finally 96.95 (55-day SMA). On the other hand, the next up barrier emerges at 98.32 (2019 high Apr.25) seconded by 99.89 (high May 11 2017) and then 100.51 (78.6% Fibo of the 2017-2018 drop). 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 Canada: Soft February GDP report – RBC FX Street 3 years The index stays well into the negative territory near 97.50. US 10-year yields climb to daily highs around 2.55%. CB's Consumer Confidence, Pending Home Sales next on tap. The greenback is sharply lower vs. its rivals on Tuesday, with the US Dollar Index (DXY) dropping to new 5-day lows near 97.50. US Dollar Index focused on US data The index is prolonging the leg lower after being rejected from 2019 highs in the 98.30/35 band in the second half of last week. The down move has picked up pace after Friday's advanced Q1 GDP figures noted the absence of traction… Top 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.