US Dollar in fresh 2016 tops around 100.30

The greenback, when measured by the US Dollar Index, keeps pushing higher on Wednesday, now clinching fresh 2016 tops above 100.30.

US Dollar attention to data

The optimism around the buck remains unaltered so far, now sending the index to levels last seen in early December around 100.30, closer to 2015 tops near 100.60.

Increasing bets on a Fed move by year-end, potential fiscal easing during Trump’s presidency, higher inflation expectations, rising US yields and auspicious results in the US economy as of late have all been fuelling the upside momentum in USD, which is advancing for the second consecutive week so far.

Later in the NA session, US Industrial and Manufacturing Production are due along with Capacity Utilization, the NAHB index and the DoE’s report on crude oil supplies. In addition, Philly Fed P.Harker (2017 voter, hawkish) is also due to speak.

US Dollar relevant levels

The index is up 0.03% at 100.26 and a break above of 100.32 (2016 high Nov.16) would target 100.60 (high Dec.3 2015) en route to 102.19 9monthly high Apr.2003). On the other hand, the next support aligns at 99.38 (low Nov.14) followed by 99.13 (high Nov.11) and finally 98.53 (20-day sma).