US Dollar rebounds beyond 94.80

18 June, 2018

The greenback bounces off lows, approaches 94.90. Yields of the US 10-year note remain sidelined so far. NAHB index came in below expectations in June.

The US Dollar Index (DXY), which tracks the buck vs. its main rivals, has managed to attract some buying interest and rebounds from lows near 94.70.

US Dollar looks to Fedspeak

The greenback is extending the choppy trade on Monday, navigating a tight range and coming down after hitting fresh daily tops beyond 95.00 the figure earlier in the session.

The index appears cautious today following another bout of effervescence in the US-China trade front, while another appearance of ECB’s Draghi at the Sintra Forum could also bring in some volatility via EUR/USD.

In the data space, the NAHB index missed estimates at 68 for the current month, while Atlanta Fed R.Bostic (voter, centrist) and New York Fed W.Dudley (permanent voter, centrist) are due to speak later in the day.

US Dollar relevant levels

As of writing the index is up 0.02% at 94.81 facing the next hurdle at 95.14 (2018 high Jun.15) seconded by 95.15 (high Nov.6 2017) and finally 96.51 (high Jul.4 2017). On the other hand, a breach of 94.04 (21-day sma) would open the door to 94.02 (10-day sma) and then 93.21 (low Jun.6).

Source link  
EUR/GBP upside met tough resistance

EUR/GBP comes down after testing the 0.8900 handle. UK PM Theresa May will step down on Friday. Brexit uncertainty remains unabated...

Gold rallies to session tops around $1285

Fears of a further escalation in the US-China trade tensions underpin safe-haven demand. The ongoing slump in the US bond yields remained supportive...

Euro drops to lows around 1.1220

The pair drops further and tests 1.1230/25, fresh lows. EMU Consumer Confidence improved a tad to -7.2 in March. German advanced CPI in focus...

Gold surrenders weekly gains

Bulls fail to capitalize on the recent recovery move from over one-month lows. A goodish recovery in European equities dampens safe-haven demand. A modest USD

US Dollar Index challenges 96.00

The index comes under further selling pressure and tests the 96.00 handle. Yields of the US 10-year note ease from tops beyond 3.17%. US Non-farm...

Gold bounces off lows

Renewed trade-war fears push USD higher and prompt some fresh selling. Reviving safe-haven demand lends some support and helps limit downside. Fed...

GBP futures downside looks limited

In light of advanced data for GBP futures markets from CME Group, investors scaled back their open interest positions by almost 1.8K contracts on Thursday from...

Gold clocks 10-day highs near $1263

Technical correction extends above $ 1260 amid broad-based USD weakness. Lingering US-Sino trade tensions support, as the focus shifts to the US CPI...

Dollar holds below mid-94.00s

Lingering trade war fears keep the USD bulls on the defensive. Thin liquidity conditions also hold traders from placing aggressive bets. This week's important...


Share it on:   or