DXY remains parked near the 98.30 region. Yields of the US 10-year note remain below 1.8%. Consumer Confidence, New Home Sales next of note. The greenback, in terms of the US Dollar Index (DXY), is managing well to keep business in the area of 2-week highs around 98.30 on Tuesday. US Dollar Index looks to data and trade The index is navigating the upper end of the recent range around 98.30, although a move further north of the key resistance area in the mid-98.00s seems to need a stronger catalyst. In this regard, there are no fresh developments from the US-China trade dispute or any progress on the ‘Phase One’ deal other than the usual rhetoric from both countries that a deal is ‘close’. On another scenario, the greenback is expected to take centre stage later in the day in light of the release of the always-relevant Consumer Confidence gauge by the Conference Board, New Home Sales, the S&P/Case-Shiller index, advanced Trade Balance and Wolesale Inventories. 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 retreating 0.01% at 98.28 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 Forex Today: Markets doubt US-Sino progress, Powell sees glass filling, GBP/USD spooked by poll FX Street 3 years DXY remains parked near the 98.30 region. Yields of the US 10-year note remain below 1.8%. Consumer Confidence, New Home Sales next of note. The greenback, in terms of the US Dollar Index (DXY), is managing well to keep business in the area of 2-week highs around 98.30 on Tuesday. US Dollar Index looks to data and trade The index is navigating the upper end of the recent range around 98.30, although a move further north of the key resistance area in the mid-98.00s seems to need a stronger catalyst. In this regard, there are no fresh developments from the… 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.
