US Dollar Index clinches highs near 94.80 post-US data
- The index moves higher and prints new tops around 94.80.
- Yields of the US 10-year reference rebound to 3.08%.
- US GDP matched estimates at 4.2% during the second quarter.
The greenback, measured by the US Dollar Index (DXY), remains on an upbeat tone in the second half of the week and is now flirting with fresh peaks in the boundaries of 94.00.
US Dollar Index bid after data
The upside in the index found extra legs after final prints of the US GDP showed the economy expanded at an annualized 4.2% during the April-June period, matching prior surveys.
Additional data saw headline Durable Goods Orders expanding more than expected at a monthly 4.5% in during August, while Core orders gained 0.1% inter-month. Further out, preliminary figures expect the trade deficit to widen to $75.83 billion during last months.
Still in the US docket, Initial Claims rose at a weekly 214K, coming in below previous estimates and taking the 4-Week Average to 206.25K from 206.00K.
The sentiment around the buck shifted to a more upbeat view following the recent move on rates by the Fed, while rising jitters on the Italian budget have been also collaborating with the selling bias in the risk-on universe.
US Dollar Index relevant levels
As of writing the index is gaining 0.45% at 94.73 facing the next hurdle at 95.00 (high Sep.14) seconded by 95.03 (55-day SMA) and finally 95.74 (monthly high Sep.4). On the downside, a breach of 93.81 (low Sep.21) would aim for 93.71 (monthly low Jul.9) and then 93.19 (monthly low Jun.14).