Dollar Index climbs again

The U.S. Dollar Index is up 0.3% at 95.53, looking for its fifth consecutive gain. The greenback built on yesterday's rally during the overnight session, hitting a high in early morning trade. 

The advance was due in part to weakness in the euro, but the Dollar Index backed off its best level of the day after notching a session high (95.74) just above its September high (95.74). The euro has recovered more than half of its decline, but it remains on course for its fifth consecutive loss, as the market's attention is drawn to Italy's fiscal standing once again, sending Italy's 10-yr BTP yield (3.475%) past the post-election high (3.388%).

EUR/USD: -0.26% to 1.1544

• Fifth consecutive decline for the euro
• Italy's Deputy Prime Minister Luigi Di Maio said the government will "not retreat even a millimeter" from its plan for a 2019 deficit of 2.4%. Mr. Di Maio added that the Italian government has no plans to leave the euro
• Eurozone August PPI +0.3% month-over-month (expected 0.2%; last 0.7%); +4.2% year-over-year (expected 3.9%; last 4.3%)
• Spain's September Unemployment Change 20,400 (expected 28,200; last 47,000)

GBP/USD: -0.47% to 1.2976

• 50-day moving average at 1.2978
• UK's September Construction PMI 52.1 (expected 52.8; last 52.9). September Nationwide HPI +0.3% month-over-month (expected 0.2%; last -0.5%); +2.0% year-over-year (expected 1.9%; last 2.0%)

USD/CHF: +0.25% to 0.9859

• Seventh consecutive advance for the dollar

USD/JPY: -0.21% to 113.75

• Action pauses near November high (114.74)
• Japan's September Household Confidence 43.4 (expected 43.0; last 43.3)

USD/CNY: -0.01% to 6.868

• USD/CNH: -0.04% to 6.884
• Golden Week in China

USD/INR: -0.13% to 73.33

• Mahatma Gandhi Jayanthi in India

USD/RUB: +0.49% to 65.31

USD/TRY: +0.70% to 5.977

• 50-day moving average at 5.9758

USD/BRL: -2.75% to 3.907

• 50-day moving average at 3.976
• Brazil's August Industrial Production -0.3% month-over-month (expected 0.2%; last -0.1%); +2.0% year-over-year (expected 3.2%; last 4.2%). September IPC-Fipe Inflation Index +0.39% month-over-month (expected 0.40%; last 0.41%)

USD/ARS: -3.55% to 37.99

USD/MXN: +0.30% to 18.77

• Session high (18.87) notched just below 50-day moving average (18.88)

USD/ZAR: +0.91% to 14.34

• Action remains near 50-day moving average (14.28)
• Growing speculation that South Africa may need to ask the IMF for assistance

USD/CAD: +0.02% to 1.2818

AUD/USD: -0.46% to 0.7187

• Australia's September AIG Manufacturing Index 59.0 (last 56.7)

NZD/USD: +0.05% to 0.6597

• New Zealand's GDT Price Index -1.9% (last -1.3%)