DXY rebounds from recent lows and trades near 96.00. Mood improves in the risk complex following Tuesday’s sell-off. US NFIB index, API’s report will be the only releases later in the NA session. The US Dollar Index (DXY), which gauges the buck vs. a bundle of its main competitors, is trading on a better footing and approaching the key 96.00 barrier. US Dollar Index regains traction on Trump, yields Following three consecutive daily pullbacks, the index has managed to recover the smile on Tuesday and is now trading at shouting distance from the 96.00 mark after bottoming out in levels last seen in September 2018 near 94.60 on Monday. The greenback reacted positively after President Trump said on Monday he is considering tax cuts among other economic measures in order to mitigate the impact of the coronavirus on the US economy. President Trump is expected to give a press conference later on Tuesday. The dollar is also deriving support from the bounce in US yields after the recent drop to historic lows. In fact, yields of the US 10-year note plummeted to the 0.30% area for the first time ever and is now hovering over the 0.70% region. It will be a very calm session in the US docket, as the NFIB index is only scheduled for later on Tuesday along with the usual report on US crude oil supplies by the American Petroleum Institute (API). What to look for around USD Despite the ongoing bounce off multi-month lows near 94.60, the outlook on the index remains on the bearish side for the time being. In the meantime, the dollar remains under heavy pressure in response to rising bets on another Fed move on rates at the March meeting, declining yields and heightened concerns on the impact of the coronavirus on the economy. Attention has now shifted to the speech by President Trump later today, where he is expected to announce measures to combat the effects of the COVID-19 on the US economy. US Dollar Index relevant levels At the moment, the index is gaining 0.80% at 95.82 and a break above 96.03 (50% Fibo of the 2017-2018 drop) would open the door to 96.16 (200-week SMA) and finally 96.36 (monthly low Dec.31 2019). On the flip side, immediate contention aligns at 94.65 (2020 low Mar.9) seconded by 94.20 (38.2% Fibo of the 2017-2018 drop) and then 93.81 (monthly low Sep.23 2018). 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 RBNZ Orr: New Zealand has capacity to respond to coronavirus impact FX Street 3 years DXY rebounds from recent lows and trades near 96.00. Mood improves in the risk complex following Tuesday’s sell-off. US NFIB index, API’s report will be the only releases later in the NA session. The US Dollar Index (DXY), which gauges the buck vs. a bundle of its main competitors, is trading on a better footing and approaching the key 96.00 barrier. US Dollar Index regains traction on Trump, yields Following three consecutive daily pullbacks, the index has managed to recover the smile on Tuesday and is now trading at shouting distance from the 96.00 mark after bottoming out in levels… 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.