The index exchanges gains with losses in the mid-96.00s. Yields of the US 10-year note rebound to 2.44%. US housing sector data, Consumer Confidence in the limelight. The greenback, when tracked by the US Dollar Index (DXY), is trading without a clear direction on Tuesday, always around the 95.50/60 area. US Dollar Index looks to data The index is now alternating gains with losses in the mid-96.00s against the backdrop of a broad-based lack of direction in the global markets. The rebound from recent 6-week lows in the vicinity of the 95.80/70 band appears to have met strong resistance around 96.80, later sparking the ongoing consolidation while investors continue to look to Brexit developments and US-China trade talks as the main drivers for the risk trends. Moving forward, Housing Starts and Building Permits for the month of February are due next along with house prices measured by the S&P/Case-Shiller index and the Conference Board’s Consumer Confidence gauge for the current month. What to look for around USD The greenback stays under the microscope for the time being while market participants continue to adjust to the prospects of no hikes from the Fed this year and just one rate raise in 2020. Further attention falls on the inversion of the US yield curve, which is seen as a prologue for a probable recession in a year’s time-ish. On the supportive side, the buck could gather some traction in case of souring risk appetite and widening rate differentials vs. its peers. From the political view, the debt ceiling, the border-wall funding and upcoming elections next year carry the potential to spark bouts of extra volatility around USD. US Dollar Index relevant levels At the moment, the pair is gaining 0.06% at 96.58 and a breakout of 96.81 (high Mar.22) would expose 97.37 (high Feb.15) and finally 97.71 (2019 high Mar.7). On the other hand, the immediate support lines up at 95.74 (low Mar.20) followed by 95.16 (low Jan.31) and then 95.03 (2019 low Jan.10). 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 China: PPI on a downtrend, but policy stimulus to limit decline – Standard Chartered FX Street 4 years The index exchanges gains with losses in the mid-96.00s. Yields of the US 10-year note rebound to 2.44%. US housing sector data, Consumer Confidence in the limelight. The greenback, when tracked by the US Dollar Index (DXY), is trading without a clear direction on Tuesday, always around the 95.50/60 area. US Dollar Index looks to data The index is now alternating gains with losses in the mid-96.00s against the backdrop of a broad-based lack of direction in the global markets. The rebound from recent 6-week lows in the vicinity of the 95.80/70 band appears to have met strong resistance around… 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.
