Home US Dollar retreats from tops beyond the 95.00 handle
FXStreet News

US Dollar retreats from tops beyond the 95.00 handle

  • The index navigates the upper end of the range near 95.00.
  • Yields of the US 10-year note rebound to the boundaries of 3.0%.
  • US Factory Orders expanded 0.6% MoM during last month.

The greenback, in terms of the US Dollar Index (DXY), is now giving away part of its earlier gains and returns to the 94.90/85 band.

US Dollar looks to 95.00 and above

The index is posting gains for the third session in a row on Thursday, managing to advance further north of the critical 95.00 milestone, albeit losing the grip somewhat soon afterwards.

DXY picked up extra pace following higher yields in the US money markets as well as increasing jitters on the US-China trade dispute. In addition, the selling bias around EUR, GBP and JPY have been also collaborating with the upbeat momentum around the buck.

In the data space, US Initial Claims rose 218K WoW, bettering estimates, while Factory Orders expanded at a monthly 0.7% during June, matching forecasts.

US Dollar relevant levels

As of writing the index is up 0.28% at 94.94 and a breakout of 95.06 (high Aug.2) would target 95.53 (high Jun.28) en route to 95.65 (2018 high Jul.19). On the downside, the next support lines up at 94.23 (low Jul.31) seconded by 94.22 (short-term support line) and finally 94.08 (low Jul.26).

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.