USD Index trades remains bid and flirts with 102.00 – by pabspiovano DollarIndex Currencies Majors
US yields keep the march north and bolster the dollar., which tracks the greenback vs. a bundle of its main competitors, extends Friday’s bounce to the boundaries of 102.00 the figure at the beginning of the week.The index now trades on a firmer foot and pokes with the key barrier at the 102.00 region on the back of the continuation of the selling bias in the risk-associated universe, while further upside in US yields across the curve also collaborates with the daily uptick.
In the US docket, the NY Empire State Manufacturing Index improved to 10.8 for the current month. Later in the session, the NAHB Housing Market Index and TIC Flows are both due.The dollar’s corrective upside remains en route to challenge the key barrier at 102.00 on Monday. In favour of a pivot in the Fed’s normalization process, however, still emerges the persevering disinflation, nascent weakness in some keyKey events in the US this week
: Persistent debate over a soft/hard landing of the US economy. Terminal Interest rate near the peak vs. speculation of rate cuts in 2024. Fed’s pivot. Geopolitical effervescence vs. Russia and China. US-China trade conflict.Now, the index is advancing 0.31% at 101.89 and the next resistance level emerges at 103.05 seconded by 103.53 and then 105.11 . On the flip side, the breach of 100.78 would open the door to 100.00 and finally 99.81 .
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