US Dollar parked around 93.30 ahead of data, Yellen

The greenback, in terms of the US Dollar Index, remains within familiar ranges at the end of the week, currently orbiting around the 93.30 region.

US Dollar attention to Yellen

The index is extending its sideline theme on Friday, with gains capped around 93.60 while sellers remain unable to break below the strong support in the 93.00 neighbourhood for the time being

Markets’ sentiment throughout the wek has been dominated by speculations over the tone of the upcoming speeches by ECB’s Draghi and Chief Yellen at the Jackson Hole Symposium later today.

Attention will be on any indication of ECB ‘tapering’ in the next months, despite news said earlier in the week that Draghi could refrain from making any announcement on the matter.

In addition, Yellen is expected to reiterate the tone from recent comments, although extra focus should be on any mention of the US inflation and its effects on the Fed’s tightening cycle.

Further out, July’s durable goods orders are due in an otherwise quiet US calendar.

US Dollar relevant levels

As of writing the index is gaining 0.02% at 93.24 and a breakout of 93.42 (10-day sma) would open the door to 93.63 (high Aug.23) and finally 94.14 (high Aug.16). On the flip side, the next support emerges at 93.00 (low Aug.21) seconded by 92.93 (low Aug.11) and then 92.55 (2017 low Aug.2).