US Dollar off highs, back near 95.50

The greenback, tracked by the US Dollar Index, has extended its weekly recovery to the vicinity of 95.60 in early trade, although it surrendered some pips afterwards.

US Dollar looks to data, Fedspeak

The index is advancing for the second session in a row today, reverting the negative mood seen at the beginning of the week, as risk-appetite trends seem to have ebbed somewhat.

Later in the NA session, USD will take centre stage in light of the testimony of Chairwoman J.Yellen before the House Panel, followed by speeches by St. Louis Fed J.Bullard (voter, neutral), Chicago Fed C.Evans (voter 2017, dovish) and Cleveland Fed L.Mester (voter, hawkish and one of the triple dissenters at the last FOMC meeting).

In addition, US Durable Goods Orders are expected to have contracted at a monthly 1.4% during August, while orders stripping the Transportation sector are seen dropping 0.4% MoM.

US Dollar relevant levels

The index is gaining 0.09% at 95.52 and a break above 96.00 (200-day sma) would aim for 96.31 (spike post-BoJ Sep.21) and finally for 96.50 (high Aug.5). On the flip side, the immediate support lines up at 94.86 (support line off 2016 low) ahead of 94.44 (low Sep.8) and finally 94.05 (low Aug.18).