US Dollar clinches 2018 tops near 95.40

21 June, 2018

The index prints fresh YTD peaks around 95.40. Yields of the US 10-year note recede to the 2.93% area. US Philly Fed Index and Initial Claims next on tap.

The greenback, tracked by the US Dollar Index (DXY), remains firm so far this week and managed to record a new 11-month top around 95.40 earlier in the session, albeit losing some ground afterwards.

US Dollar looks to data, sentiment

The index is advancing since Monday, keeping the upside bias unaltered and printing once again a new YTD peaks around 95.40, although receding a tad soon afterwards.

The up move in the buck comes along a rebound in yields of the US 10-year note to the 2.95% neighbourhood, where they seem to have found some resistance for the time being.

In the data space, the Philly Fed manufacturing gauge will be the salient publication later in the session, seconded by the usual weekly report on the labour market.

In the meantime, the absence of headlines around the US-China trade war appears to have motivated investors to shift their attention to the divergence in monetary policy between the Federal Reserve and its main peers, all reflected via a wider gap of yields in the money markets.

US Dollar relevant levels

As of writing the index is up 0.17% at 95.29 facing the next hurdle at 95.41 (2018 high Jun.21) seconded by 96.00 (psychological level) and finally 96.51 (high Jul.4 2017). On the other hand, a breach of 94.53 (low Jun.19) would open the door to 94.44 (10-day sma) and then 94.22 (21-day sma).


Source   Presented by HYCM
Euro declines on the back of risk aversion30 Jun, 2020  

On Monday the 29th of June, trading on the euro closed up. The EURUSD pair rose by 0.22% to reach 1.1241. Trading on the US stock market closed up...

EURUSD holding steady below the balance line25 Jun, 2020  

Considering that our pair has dropped from 1.1349 to 1.1236 without any pullbacks, the current momentum should be enough to take it to the 112th degree...

EURUSD: bulls planning to test 1.130023 Jun, 2020  

On Monday the 22nd of June, trading on the euro closed up. The single currency rose to 1.1270 against the dollar. Investors seemed to have forgotten about...


Euro struggles against Dollar; Gold wobbles18 Jun, 2020  

The Euro remains trapped in a fierce battle against an unyielding Dollar with prices trading marginally below 1.1250 as of writing...

EURUSD: continued flat to around 1.130010 Jun, 2020  

The EURUSD pair was held up by the yen, which rose by 1.04% to reach 108.43 against the dollar. The yen is considered a safe haven asset, so investors...

EURUSD: markets await Lagarde speech5 Jun, 2020  

Trader attention is turned towards the ECB meeting and the following press conference with Christine Lagarde. Interest rates are expected to be maintained...


EURUSD: continued growth expected21 May, 2020  

The promising results of COVID-19 vaccine trials have reduced demand for the safe haven assets. The majors are trading up against the dollar...

EURUSD: expected rebound from the lower line14 May, 2020  

The pair rose to the balance line as expected. At the time of writing, the euro is trading at 1.0807. The majors are currently trading down...

Bulls trying to strengthen the upwards impulse11 May, 2020  

Before the recovery, we got a double bullish divergence model. This should see a bounce to 1.0926. If we assume that we're going to get a flat, then this is the model...