US Dollar Index Technical Analysis: Scope for extra consolidation in the mid-97.00s

DXY is so far prolonging the weekly sideline theme in the 97.50 region always closely following the US-China trade developments.
Immediate contention emerges at last week’s low at 97.15, while this area is also supported by the proximity of the 55-day SMA ay 97.05.
In the meantime, the positive outlook is poised to prevail while above the critical 200-day SMA at 96.26.

DXY daily chart

May 9, 2019

China’s Commerce Ministry: If US implements tariffs, China will take necessary countermeasures

China’s Commerce Ministry was out with a statement in the last hour saying that China is fully prepared to defend its interest and has determination/c

AUD/USD keeps the red below 0.70 mark, focus remains on US-China trade talks

• Escalating US-China trade tensions continue to dent demand for the Aussie. • Bulls shrug off better than expected/mostly in-line Chinese inflation