DXY moves to fresh tops around 94.60 after losing some momentum. US weekly Claims rose more than expected by 870K. Housing data, Fed’s Jerome Powell next on tap in the calendar. The US Dollar Index (DXY), which gauges the greenback vs. a basket of its man rivals, keeps pushing higher and clinches new 2-month tops in the 94.55/60 band. US Dollar Index firmer on risk-off mood, waits for Powell The index extends the winning streak for yet another day on Thursday and now trades at shouting distance from the interim hurdle in the 94.80 region, where is located the 6-month resistance line ahead of another minor hurdle at the 100-day SMA near 95.60. In the meantime, investors continue to favour the dollar against the backdrop of rising concerns that the unabated pandemic could hamper the economic recovery. Also bolstering the risk aversion bias, uncertainty around further discussions on a potential extra stimulus bill keeps running high with no solution on the horizon for the time being. In the US data space and while investors wait for the testimony by Chief Jerome Powell before the House Select Committee, Initial Claims rose by 870K WoW, more than initially estimated. Later in the session, New Home Sales for the month of August are also due. What to look for around USD The dollar keeps the buying bias unchanged in the second half of the week, looking to stabilize the recent breakout of the 94.00 barrier. The ongoing and moderate bullish move in DXY is (still) seen as temporary, however, as the underlying sentiment towards the greenback remains on the negative side. This view is reinforced by the “lower for longer” stance from the Federal Reserve, hopes of a strong recovery in the global economy, the negative position in the speculative community and political uncertainty ahead of the November elections and over further monetary/fiscal stimulus. US Dollar Index relevant levels At the moment, the index is gaining 0.15% at 94.48 and a break above 94.49 (monthly high Sep.24) would open the door to 95.59 (100-day SMA) and finally 96.03 (50% Fibo of the 2017-2018 drop). On the other hand, the next support emerges at 92.70 (weekly low Sep.10) seconded by 91.92 (23.6% Fibo of the 2017-2018 drop) and then 91.75 (2020 low Sep.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 USD/JPY climbs to one-week tops and retreats, slightly up around 105.40 area FX Street 2 years DXY moves to fresh tops around 94.60 after losing some momentum. US weekly Claims rose more than expected by 870K. Housing data, Fed’s Jerome Powell next on tap in the calendar. The US Dollar Index (DXY), which gauges the greenback vs. a basket of its man rivals, keeps pushing higher and clinches new 2-month tops in the 94.55/60 band. US Dollar Index firmer on risk-off mood, waits for Powell The index extends the winning streak for yet another day on Thursday and now trades at shouting distance from the interim hurdle in the 94.80 region, where is located the 6-month… 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.