• The index trades within a narrow range around 101.30.
• Further weakness is expected to meet support at the 101.00 region.
• Flash Q1 GDP figures, weekly Claims take centre stage later.

The greenback, when tracked by the USD Index (DXY), alternates gains with losses around the 101.30 on Thursday.

USD Index looks at data, risk appetite

The weekly decline in the index seems to have met some initial contention around the 101.00 neighbourhood amidst persistent bias towards the risk complex and a tepid bounce in US yields across the curve.

In the meantime, the Dollar attempts to stabilize in the lower end of the weekly range against the backdrop of a strong improvement in the sentiment around the risk-associated assets and a broad consolidation in place since the beginning of April.

Data wise in the US, the release of advanced Q1 GDP Growth Rate will be in the centre of the debate along with usual Initial Claims and Pending Home Sales.