- DXY is looking to add to the weekly resume in zone 100.30.
- Investors continue to follow the gradual reopening of the economy.
- Retail sales, Empire State Index, industrial production, U-Mich all due later.
The greenback, when followed by the US dollar index ((DXY), maintains the weekly recovery well beyond the key barrier at 100.00 the figure.
US dollar index focuses on data
The index is advancing for the third consecutive session at the end of the week, doing well to keep business above the 100.00 arch and losing some gains after hitting new 3-week highs near 100, 60 Thursday.
In the meantime, the dollar keeps buying interest alive and is still seeking the gradual reopening of the US economy and the evolution of the coronavirus outbreak.
For the future, it will be an interesting day in the American file: Retail sales, Industrial production, capacity utilization, Empire State Index, Consumer Sentiment flash, JOLT job vacancies and ICT flows.
What to Look for around the USD
The greenback is maintaining the bullish bias so far this week in the context of a general consolidation mode on the world markets. In the meantime, the US-China trade war and the gradual reopening of the US economy continue to be at the center of the debate among investors. Supporting the momentum surrounding the greenback is emerging the current environment of “flight to security”, helped by its status as “world reserve currency” and store of value. On another front, and following the FOMC event, the fed is expected to lag behind the stance of monetary policy, at least until the coronavirus crisis subsides.
Relevant levels of the US dollar index
For the moment, the index is gaining 0.04% at 100.31 and a break above 100.93 (weekly / monthly high on April 6) would open the door to 101.34 (April 10 high monthly 2017) and finally to 102.25 (monthly high of March 9, 2017). ). On the other hand, the next support is at 99.44 (SMA 55 days) followed by 99.12 (minimum weekly on May 11) then 98.57 (minimum monthly May 4).