DXY extends slide despite US data

• USD down against European currencies and yen 
• Still up versus commodity currencies
• Better-than-expected US data fails to boost greenback 

The US Dollar Index turned to the downside during the American session despite better-than-expected US economic data. 

DXY down on EUR, GBP and JPY strength 

The greenback is up and near daily highs versus the loonie, the kiwi and the aussie, holding a strong bullish tone. But the DXY is trading at daily lows amid a rally of European currencies and also after a reversal in the USD/JPY pair. 

The yen gained momentum with a slide of equity prices in Wall Street where the Dow Jones is falling 0.4%. The pound jumped after UK GDP data and the euro remains resilient ahead of Thursday’s ECB meeting. The US Dollar is down even against the Swiss franc. 

Data released earlier showed that US Durable Goods orders rose 2.2% in September above the 1.0% expected. Later, on another upbeat report, new home sales jumped 18%, against forecasts of a modest slide. The DXY turned lower after the data and kept a bearish bias. 

US bond yields also failed to offer support. While the 10-year remained near 2.45% the  DXY reached a 3-day low at 93.46. At the moment of writing the index was hovering around 93.55, down 0.30%.  

US Dollar Index levels 

To the downside, immediate support might lie at 93.45 (daily low), followed by 93.05/10 (Oct 12 & 13 high) and 92.90 (Oct 19 high). On the flip side, resistances lie at 93.50 (10-day moving average), 93.85/90 (Oct 23 & 25 high) and 94.07 (Oct 6 high).