US Dollar gives away further gains post-US ISM, near 92.70

Measured in terms of the US Dollar Index, the greenback has faded the initial spike to the 92.90 area and is now testing the 92.70/65 band, near session lows.

US Dollar offered on data

The index lost further momentum after July’s ISM manufacturing came in at 56.3 vs. 56.5 initially forecasted and down from June’s 57.8. Earlier mixed data did not helped the buck either, with June’s personal income coming in flat and personal spending expanding at a marginal 0.1%.

On the bright side, inflation figures tracked by the core PCE rose more than expected at an annualized 1.5% in June, matching the previous advance.

In the meantime, USD stays well under pressure amidst the unabated effervescence in the US political scenario, which remains a permanent source of weakness for the greenback.

US Dollar relevant levels

The index is gaining 0.02% at 92.69 and a breakout of 92.86 (high Aug.1) would target 93.59 (10-day sma) en route to 94.11 (high Jul.26). On the downside, the immediate support emerges at 92.64 (2017 low Jul.31) seconded by 92.52 (low Aug.24 2015) and finally 91.88 (2016 low May 3).