DXY accelerates the downside to the sub-97.00 area. Safe haven demand drag US 10-year yields below 0.95%. US January’s Factory Orders coming up next on the docket. The US Dollar Index (DXY), which gauges the buck vs. a basket of its main rivals, is losing further ground and testing the area below the 97.00 mark on Thursday. US Dollar Index softer on risk aversion, yields The index has resumed the downside in the second half of the week, quickly leaving behind Wednesday’s positive performance and re-shifting the attention to the sub-97.00 zone. The persistent risk aversion mood has been weighing heavily on the greenback via lower US yields and solid preference for the safe haven JPY. Indeed, USD/JPY tumbled to fresh YTD lows in the 106.70 region, while yields of the key US 10-year reference are navigating below the 0.95% level. In the US docket, the data did not help the buck either, as Non-farm Productivity and Unit Labor Costs came in below expectations in Q4 and weekly Claims rose more than forecasted. Later in the NA session, Factory Orders for the month of January will close the calendar. What to look for around USD The index remains well on the defensive in sub-97.00 levels on Thursday. Following the breach of the 200-day SMA (today at 97.82), the outlook on the dollar has now shifted to bearish and further pullbacks should not be ruled out. In the meantime, developments from the coronavirus continue to drive the sentiment in the global markets, while investors’ attention is now on the upcoming FOMC meeting (March 17-18) and the probability of extra easing after Tuesday’s exceptional 50 bps interest rate cut. US Dollar Index relevant levels At the moment, the index is losing 0.41% at 96.97 and faces the next support at 96.90 (weekly/monthly low Mar.5) seconded by 96.74 (low Dec.12 2019) and then 96.53 (monthly low Dec.31 2019). On the upside, a break above 97.82 (200-day SMA) would aim for 98.54 (monthly high Nov.29 2019) and finally 99.09 (23.6% Fibo retracement of the 2020 rally). 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 EUR/USD: Welcome to the Hotel Coronavirus FX Street 3 years DXY accelerates the downside to the sub-97.00 area. Safe haven demand drag US 10-year yields below 0.95%. US January’s Factory Orders coming up next on the docket. The US Dollar Index (DXY), which gauges the buck vs. a basket of its main rivals, is losing further ground and testing the area below the 97.00 mark on Thursday. US Dollar Index softer on risk aversion, yields The index has resumed the downside in the second half of the week, quickly leaving behind Wednesday’s positive performance and re-shifting the attention to the sub-97.00 zone. The persistent risk aversion mood has been weighing… 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.
