USD Index looks flat below the 104.00 region – by pabspiovano DollarIndex Currencies Majors
There is no clear direction in the global markets so far., treads water just below the 104.00 zone ahead of the opening bell in the old continent on Monday.The index appears somewhat stable in the sub-104.00 region following Friday’s U-turn after climbing to fresh multi-week highs in the 104.65/70 band.
Moving forward, the publication of the FOMC Minutes of the February gathering and inflation figures tracked by the PCE are expected to take centre stage in the US docket this week.The dollar faces some profit taking mood following Friday’s sharp advance to new 6-week peaks near 104.70. The loss of traction in wage inflation – as per the latest US jobs report - however, seems to lend some support to the view that the Fed’s tightening cycle have started to impact on the still robust US labour markets somewhat.: Flash Manufacturing/Services PMI, Existing Home Sales – MAB Mortgage Applications, FOMC Minutes – Advanced Q4 GDP Growth Rate, Initial Jobless Claims, Chicago
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