US Dollar trims gains, still near 100.00

The greenback – measured by the US Dollar Index – is clinging to its daily gains just above the critical 100.00 handle on Thursday.

US Dollar attention to data, Fedspeak

USD is looking to revert yesterday’s pullback on a more sustainable fashion, always amidst a generalized absence of events or relevant publications in the US calendar.

However, a better tone in US money markets is lifting yields from recent lows so far, somewhat limiting the decline and helping DXY to keep the trade above the 100.00 mark.

Recent Fedspeak – particularly comments by Harker, Williams and Evans – have emphasized the solid health of the US economy while adding to the view that the projected three rate hikes this year seem appropriate.

Later in the NA session, Initial Claims are only due, while St. Louis Fed J.Bullard (2019 voter, neutral) and Chicago Fed C.Evans (voter, dovish) are also due to speak.

US Dollar relevant levels

The index is gaining 0.04% at 100.18 facing the next resistance at 100.69 (high Feb.7) followed by 101.02 (high Jan.30) and finally 101.35 (55-day sma). On the other hand, a breach of 99.91 (low Feb.7) would open the door to 99.76 (100-day sma) and then 99.19 (low Feb.2).