US Dollar off highs, back near 95.60 ahead of US data

The greenback, tracked by the US Dollar Index, has quickly climbed to session highs above 95.70 although it has returned to the 95.60 area afterwards.

US Dollar attention to data

The index met a bout of buying interest after shares of the German Deutsche Bank took a serious hit earlier in the European morning, at some point shedding around 9% to record lows near 9.90 although recovering a tad soon afterwards.

In the meantime, USD manages well to keep the trade in the upper end of the range near session tops ahead of key US releases due later: inflation figures measured by the PCE, Personal Income/Spending, Chicago PMI and the final print of Consumer Sentiment gauged by the Reuters/Michigan index.

In addition, Dallas Fed R.Kaplan (2017 voter, neutral) is due to speak later in the NA session, adding to the weekly slew of Fed speakers following the FOMC meeting last week. It is worth noting that KC Fed E.George has reiterated yesterday that it is time for the Federal Reserve to hike rates.

US Dollar relevant levels

The index is gaining 0.17% at 95.69 and a break above 95.97 (200-day sma) would aim for 96.31 (spike post-BoJ Sep.21) and finally for 96.50 (high Aug.5). On the flip side, the immediate support lines up at 94.92 (support line off 2016 low) ahead of 94.44 (low Sep.8) and finally 94.05 (low Aug.18).