US dollar index rises marginally, remains around 103.00

On a low volume session, the US dollar index is about to end marginally higher. The greenback is practically unchanged against the euro and the yen, but is posting gains versus commodity currencies and the pound. Cable fell below 1.2300, to the lowest in seven weeks. 

The DXY rebounded after falling to 102.50 (3-day low) and climbed back toward the 103.00 area. It was trading at 103.05, up 0.07% for the day. 

In the bond market, rates rose modestly while equity prices in Wall Street were posting minor losses. The Dow Jones was down 0.13% and the Nasdaq was falling 0.45%. 

Many economic reports were released in the US but had a limited impact on markets. The third reading of 3Q GDP was revised higher to 3.5% (above the 3.3% expected); durable goods orders dropped 4.6%  (in line with expectations); initial jobless claims jumped surprisingly to 275K, the highest since June; personal spending rose 0.2% in November (under the 0.3% expected) while personal income remained unchanged (market consensus pointed to a 0.3% gain). 

US: Third quarter final GDP revised up to 3.5%

US Durable Orders: Gradual firming as headwinds begin to fade - Wells Fargo

DXY levels to watch 

The US dollar index is consolidating around the 103.00 handle. To the upside, resistance might be seen at 103.20 (Dec 21 high), 103.55/60 (Dec 20 high) and 104.00 (psychological). On the downside, support levels might lie at 102.50/55 (Dec 22 low), 102.45 (Dec 19 low) and 102.00 (psychological).