USD Index regains the smile and advances past 104.00 – by pabspiovano DollarIndex Currencies Majors
US markets return to normal activity following Monday’s holiday., which gauges the greenback vs. a bundle of its main competitors, trades with decent gains north of the 104.00 barrier on turnaround Tuesday.The index manages to reverse two consecutive daily pullbacks so far on Tuesday and regains the key 104.00 region on the back of the tepid offered stance in the risk-associated universe and a mild uptick in US yields ahead of the opening bell in Euroland.
The probable pivot/impasse in the Fed’s normalization process narrative is expected to remain in the centre of the debate along with the hawkish message from Fed speakers, all after US inflation figures for the month of January showed consumer prices are still elevated, the labour market remains tight and the economy maintains its resilience.
National Activity Index – PCE, Core PCE, Personal Income/Spending, Final Michigan Consumer Sentiment, New Home Sales .: Rising conviction of a soft landing of the US economy. Slower pace of interest rate hikes by the Federal Reserve vs. shrinking odds for a recession in the next months. Fed’s pivot. Geopolitical effervescence vs. Russia and China. US-China trade conflict.Now, the index is gaining 0.15% at 104.03 and faces the next hurdle at 104.66 seconded by 105.63 and then 106.44 .
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