US Dollar steady around 92.50

The US Dollar Index, which tracks the buck vs. its main rivals, remains in the 92.50 region so far today amidst marginal volatility and trading conditions due to the Labor Day holiday in the US.

US Dollar bounces off 91.60

After testing fresh cycle lows in the 91.65/60 band last week, the index attempted a rebound to the mid-93.00s, although the bullish attempt seems to have run out of momentum in the mid-93.00s.

Poor results from US non-farm payrolls on Friday triggered a quick sell off in the buck, although it has managed to regain buying interest later and end the day/week with gains.

Heightened geopolitical jitters following NK headlines motivated traders to buy the EUR today, weighing on DXY and keeping it subdued around the mid-92.00s for the time being.

From the positioning front, USD speculative net shorts increased to the highest level since early April 2014, as shown by the latest CFTC report.

US Dollar relevant levels

As of writing the index is retreating 0.30% at 92.54 and a break below 92.10 (low Sep.1) would target 91.62 (2017 low Aug.29) en route to 91.51 (low Jan.15 2015). On the upside, the next hurdle is located at 92.82 (10-day sma) seconded by 93.15 (21-day sma) and finally 93.35 (high Aug.31).