US Dollar gyrating around 93.30 post-US data

• US factory orders contracted less than expected.
• DXY remains near daily tops around 93.30.
• US tax reform, Russia-gate supporting the buck.

The US Dollar Index (DXY) – which measures the greenback vs. a basket of its main rival currencies – keeps intact the bid tone at the beginning of the week around the 93.30/35 band.

US Dollar bid on data

The buying interest around the index stays unchanged on Monday after US factory orders contracted at a monthly 0.1% during October, less than initially forecasted. September’s reading were revised higher to 1.7% MoM from 1.4%.

In addition, orders excluding the Transportation sector expanded at a monthly 0.8%, in line with expectations.

The buck has reverted part of last week’s bearish note after the US Senate passed the tax reform bill and uncertainty around recent Flynn headlines remains on the rise.

US Dollar relevant levels

As of writing the index is gaining 0.37% at 93.25 and a break above 93.35 (high Dec.4) would open the door to 93.50 (high Nov.30) and finally 94.03 (23.6% Fibo of 2017 drop). On the flip side, the next support emerges at 92.50 (low Nov.30) seconded by 91.78 (low Sep.22) and then 91.53 (low Sep.20).