US Dollar sticks to gains around 93.00

• USD extends gains near 93.00
• US 10-year yields rebounds beyond 2.33%.
• Powell next on tap ahead of Yellen tomorrow.

The greenback, in terms of the US Dollar Index, is looking to add to Monday’s gains and is currently trading in the 943.00 neighbourhood.

US Dollar looks to Powell

The index has managed to revert a negative start of the week and bounced off the mid-92.00s, or Monday’s lows, to the current boundaries of the critical 93.00 handle.

Positive results from the US housing sector on Monday gave oxygen to the buck and sponsored a moderate rebound in yields of the key US 10-year reference, which appear so far capped above the 2.35% level.

In the meantime, USD stays wary of headlines from the US tax reform, with President Trump expected to meet with Senate Republicans later in the day and the Senate tax bill should be put to a vote as early as Thursday.

Today’s US docket includes October’s goods trade balance, wholesale inventories, the S&P/Case-Shiller index and speeches by FOMC’s J.Powell and W.Dudley.

US Dollar relevant levels

As of writing the index is gaining 0.02% at 92.95 facing the next hurdle at 93.25 (high Nov.24) seconded by 93.45 (10-day sma) and then 94.03 (23.6% Fibo of 2017 drop). On the flip side, a break below 92.50 (low Nov.27) would open the door to 91.78 (low Sep.22) and then 91.53 (low Sep.20).