US Dollar eases from tops, back around 100.40

The US Dollar Index – which measures the buck vs. its main competitors – is now slightly in the red territory around 100.40 following recent peaks near 100.50.

US Dollar eyes on US data, Fedspeak

The sharp rebound of the index seems to have found a tough resistance in the mid-100.00s for the time being, although it keeps the weekly bullish note intact after bouncing off Monday’s troughs near 98.70.

In fact, DXY is posting its first positive weekly close after being rejected from tops in the 102.30 region, losing ground for the three subsequent weeks until some support turned up in the 98.70/65 band earlier in the week.

Positive Fedspeak and auspicious results from the US docket have combined to sustain the up move in the buck, despite yields in the US money markets remain close to weekly lows.

Today’s US data space includes inflation figures tracked by the PCE, Consumer Income/Spending, the Chicago PMI and the final Reuters/Michigan results, all along with speeches by Minneapolis Fed N.Kashkari (voter, dovish) and St. Louis Fed J.Bullard (2019 voter, centrist).

US Dollar relevant levels

The index is down 0.09% at 100.36 and a break below 99.50 (low Mar.29) would open the door to 98.92 (low Mar.28) and finally 98.67 (low Mar.27). On the upside, the next hurdle lines up at 100.47 (high Mar.31) followed by 100.63 (55-day sma) and then 101.06 (100-day sma).