The index remains on the defensive around 96.00. US trade deficit widened to nearly 480 billion in December. Fed’s Powell coming up next in the docket. The US Dollar Index (DXY), which tracks the greenback vs. a basket of its main rivals, keeps the bearish note unchanged so far this week around the 96.00 mark. US Dollar Index focused on Trump, Powell The index is down for the fourth consecutive session so far today, navigating the area of 3-week lows amidst the continuation of the better sentiment surrounding the riskier assets. Also weighing on the buck, December’s US trade deficit rose to $79.49 billion, more than previously estimated. Later in the session, December Factory Orders and January Pending Home Sales are also scheduled for release seconded by the EIA weekly report on crude oil inventories. Still on the US docket, Chief Powell will testify once again, this time before the House Financial Services Committee. Consensus among market participants, however, expects his tone to be in line with yesterday’s testimony. On another side, President Trump is meeting NK’s Kim jong un in Vietnam with the Nort Korean nuclear programme on top of the agenda. What to look for around USD The US-China trade dispute remains in centre stage when comes to drive the global sentiment for the time being. In addition, all eyes will be on the Trump-Kim meeting today and tomorrow as a potential driver on the geopolitical side. The release of another estimate of the Q4 GDP (Thursday) will also give markets and idea of how the US economy fared in late 2018. Attention will also be on the second testimony by Fed’s Powell at Capitol Hill, although this event will unlikely be a market mover. US Dollar Index relevant levels At the moment, the pair is losing 0.05% at 95.99 and a break below 95.88 (low Feb.26) would target 95.63 (200-day SMA) en route to 95.16 (low Jan.31). On the upside, the next hurdle emerges at 96.40 (21-day SMA) followed by 96.55 (10-day SMA) and then 96.79 (23.6% Fibo of the September-December up move). 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 Wall Street opens in red amid escalating geopolitical tensions FX Street 4 years The index remains on the defensive around 96.00. US trade deficit widened to nearly 480 billion in December. Fed's Powell coming up next in the docket. The US Dollar Index (DXY), which tracks the greenback vs. a basket of its main rivals, keeps the bearish note unchanged so far this week around the 96.00 mark. US Dollar Index focused on Trump, Powell The index is down for the fourth consecutive session so far today, navigating the area of 3-week lows amidst the continuation of the better sentiment surrounding the riskier assets. Also weighing on the buck, December's US trade deficit… 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.
