DXY advances further and retakes the 97.50/60 band. Markit’s final Services PMI came in at 49.4 in February. ISM Non-Manufacturing, Fed’s Beige Book next on the docket. The US Dollar Index (DXY), which tracks the greenback vs. a bundle of its main rivals, keeps recovering ground lost and extends the rebound from sub-97.00 levels. US Dollar Index now looks to ISM After four consecutive daily pullbacks, the greenback appears to have recovered the smile on Wednesday and is now testing daily highs in the 97.50/60 band following the drop to fresh 2-month lows after the Fed reduced its FFTR to 1.00%-1.25% on Tuesday. In the US data universe, the ADP report came in above expectations at 183K for the month of February, also adding extra legs to the buck’s recovery. Additionally, Markit’s Services PMI matched the preliminary print at 49.4 in February. Later in the session, the ISM Non-Manufacturing is due seconded by the Fed’s Beige Book. What to look for around USD The index has accelerated the downside to the sub-97.00 area on Tuesday, recording at the same time fresh multi-week lows. 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, 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 gaining 0.30% at 97.44 and a breakout of 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). On the downside, the next support emerges at 96.98 (weekly/monthly low Mar.2) seconded by 96.74 (low Dec.12 2019) and then 96.53 (monthly low Dec.31 2019). 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 US ISM Non-Manufacturing PMI beats with 57.3, EUR/USD slides FX Street 3 years DXY advances further and retakes the 97.50/60 band. Markit’s final Services PMI came in at 49.4 in February. ISM Non-Manufacturing, Fed’s Beige Book next on the docket. The US Dollar Index (DXY), which tracks the greenback vs. a bundle of its main rivals, keeps recovering ground lost and extends the rebound from sub-97.00 levels. US Dollar Index now looks to ISM After four consecutive daily pullbacks, the greenback appears to have recovered the smile on Wednesday and is now testing daily highs in the 97.50/60 band following the drop to fresh 2-month lows after the Fed reduced its FFTR to… 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.