The greenback strengthened broadly on Wednesday and the dollar index was trading 0.25% higher during the London session, changing hands around 94.40.
In the Asian session, the US had released the list of $200 billion in Chinese products that could be subject to an additional 10% tariff as the trade war is anything but not over. Investors sold emerging markets stocks, bonds and currencies, while the US dollar gained. US stock futures were down marginally as the SPX futures contract was trading around 2,776 USD, some 0.22% lower.
The macro calendar doesn’t offer any major data today and therefore the current risk-off mood could persist throughout the day.
The index is slowly rising toward the resistance of previous highs at 95.00. If this level is conquered, further rise toward 95.50 could occur quickly.
On the downside, the support is located around 94.00 and if not held, the greenback could deteriorate toward the support of previous lows near 93.20.
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