US Dollar around 92.90 ahead of Trump, session peaks

• The index alternates gains with losses around 92.80/90.
• US 10-year yields remain sidelined around 2.95%.
• Markets stay focused on Trump’s decision over the Iranian deal.

The greenback, in terms of the US Dollar Index (DXY), keeps the firm note so far this week and trades near 2018 tops around 92.80.

US Dollar looks to Trump’s speech

Another day, another up move in the index. DXY is up for the third session in a row on Tuesday, trading at shouting distance from yesterday’s fresh 2018 tops in levels just below the critical 93.00 the figure.

The ongoing rally in the buck has recently decoupled from the performance of yields of the US 10-year reference, which continue to consolidate in the 2.95%/2.96% area after climbing beyond the 3.0% key level a couple of weeks ago.

The US Dollar will stay focused on the speech by President D.Trump this evening, where he will decide whether to pull the US out of the Iranian nuclear deal in play since 2015.

Earlier in the day, Chief J.Powell said at his speech in Switzerland that some investors are not well positioned for anticipated higher US rates, adding that the EM-complex should manage well the Fed’s normalization and that markets should not overstate the Fed’s influence on global financial markets.

In the US data space, JOLTs Job Openings and the NFIB index are only due later in the NA session, preceding Trump’s speech.

US Dollar relevant levels

As of writing the index is gaining 0.13% at 92.90 and a breakout of 92.97 (2018 high May 7) would open the door to 93.68 (78.6% Fibo of 95.15-88.25) and then 94.22 (high Dec.12 2017). On the other hand, initial contention emerges at 92.16 (10-day sma) seconded by 91.95 (10-day sma) and finally 91.70 (50% Fibo of 95.15-88.25).