US Dollar pushes higher to 91.60 ahead of US data

• The index trades close to recent tops near 91.70.
• US 10-year yields sidelined around the 2.96% handle.
• US PCE, Pending Home Sales, Personal Income/Spending next on tap.

The greenback, in terms of the US Dollar Index (DXY), continues its march higher at the beginning of the week and is now trading in the 91.60/70 band.

US Dollar focused on yields, data

The index is extending its march north on Monday, challenging recent tops in the 91.60/70 band as the sentiment around the buck continues firm among investors.

The demand for the greenback stays firm today despite yields of the key US 10-year benchmark seem to have lost some momentum as of late, retreating from multi-year tops beyond the psychological 3.0% level.

DXY is up for the third week in a row so far today, while USD speculative net shorts moved to 3-week lows on the week to April 24, as per the latest CFTC report.

Busy day data wise in the US calendar, with inflation figures tracked by the PCE due later along with Personal Income/Spending, the Chicago PMI and Pending Home Sales for the month of March.

US Dollar relevant levels

As of writing the index is up 0.17% at 91.66 and a break above 91.98 (200-day sma) would open the door to 92.52 (61.8% Fibo of 95.15-88.25) and finally 92.64 (high Jan.10). On the other hand, the next support emerges at 90.89 (38.2% Fibo of 95.15-88.25) followed by 90.72 (10-day sma) and then 89.95 (high Apr.20).