US Dollar unchanged around 96.00

The greenback, when tracked by the US Dollar Index, is alternating gains with losses on Thursday, currently gyrating around the 96.00 limestone.

US Dollar now looks to ADP

The index has receded to the 96.00 neighbourhood today after a brief visit to the vicinity of the key 200-day sma in the mid-96.00s on Wednesday, all against the backdrop of increasing risk-off sentiment.

However, the (over?) cautious tone from the FOMC minutes on Wednesday has poured cold water over USD-bulls, forcing the index to give away part of the recent gains.

Later in the session, the ADP employment report is due, with consensus expecting the US private sector to have created nearly 160K jobs during June.

US Dollar relevant levels

The index is down 0.05% at 98.08 and a breach of 95.38 (low Jul.5) would target 95.16 (20-day sma) en route to 94.72 (55-day sma). On the flip side, the next up barrier lines up at 96.86 (high Jun.27) followed by 97.09 (high Mar.16) and finally 98.58 (high Mar.1).