US Dollar wobbling around 96.60

The US Dollar Index, which tracks the buck vs. its main rivals, is now alternating gains with losses around the mid-96.00s.

US Dollar unchanged after data

USD has practically remained apathetic after the NAHB index missed forecasts at 59 for the current month vs. 60 expected and June’s 60, while TIC Flows are due later in the evening.

In the meantime, the greenback remains quite underpinned by recent positive results from US Retail Sales, which seem to have impacted on the probability of a rate hike by the Federal Reserve in December, now seeing at nearly 40% from marginal values some weeks ago.

Furthermore, Atlanta Fed’s GDPNow tool now forecast US real GDP expanding at an annualized 2.4% during Q2, up from 2.3%.

US Dollar relevant levels

The index is gaining 0.01% at 96.59 and a breakout of 96.86 (high Jun.27) would aim for 97.09 (high Mar.16) and finally 98.58 (high Mar.1). On the flip side, the next support aligns at 95.86 (20-day sma) followed by 95.38 (low Jul.5) and then 95.03 (55-day sma).