US Dollar advances to 99.80, 3-day tops

The greenback – in terms of the US Dollar Index – has recovered the smile at the end of the week and is now testing fresh 3-day peaks near 99.80.

US Dollar looks to data, House vote

The index has managed to revert the drop to lows near 99.40 seen earlier in the week and has been slowly edging higher to levels closer to the critical 100.00 handle.

USD-supportive Fedspeak seems to have collaborated with the recovery of the index, as FOMC members reiterated their view of two more rate hikes during this year as long as the economy stays on the current track.

The key vote of House Republican on Trumpcare was cancelled yesterday and has been postponed for later today. Consensus, however, stays quite divided on the final outcome.

In the US data space, Durable Goods Orders, advanced Manufacturing PMI for the month of March and speeches by Chicago Fed C.Evans (voter, dovish), New York Fed W.Dudley (permanent voter, centrist) and San Francisco Fed J.Williams (2018 voter, centrist) are all due.

US Dollar relevant levels

The index is gaining 0.19% at 99.75 facing the next up barrier at 99.85 (78.6% Fibo of the February-March up move) ahead of 100.27 (high Mar.20) and then 100.80 (55-day sma). On the slip side, a breakdown of 99.46 (low Mar.21) would aim for 99.19 (2017 low Feb.2) and finally 96.94 (low Nov.4 2016).