US Dollar Index upside stalled just ahead of 97.00

• The index keeps the bid tone and targets 97.00.
• Yields of the US 10-year reference tumble to lows near 3.10%.
• US CB’s Consumer Confidence came in 137.9, 18-year high.

The greenback has managed to regain some buying interest after dropping to the 96.70 region when tracked by the US Dollar Index (DXY).

US Dollar Index bid after data

The index keeps the positive performance so far today, managing to revert the earlier dip to the 96.70 area and to refocus on YTD peaks in the 97.00 neighbourhood.

The buck has regained traction after October’s Consumer Confidence gauged by the Conference Board surprised markets to the upside at 137.9, the highest level in the last 18 years, and it has now resumed the up move.

In the meantime, the gloomy sentiment in the risk-associated space – with EUR, GBP and the commodity bloc in centre stage – continues to lend wings to the rally in the buck, which it has entered the third consecutive week.

US Dollar Index relevant levels

As of writing the index is gaining 0.11% at 96.79 facing the next hurdle at 96.95 (high Oct.30) seconded by 96.98 (2018 high Aug.13) and finally 97.87 (61.8% Fibo of the 2017-2018 drop). On the downside, a breakdown of 96.21 (10-day SMA) would open the door to 95.81 (21-day SMA) and finally 94.79 (low Oct.12).