The USD Index (DXY) maintains optimism and trades above 102.00 for the time being, comparing the dollar’s value to competitors. SD Index maintains optimism despite US CPI losses, trading above the 102.00 barrier and comparing dollar value to competitors. Maintains optimism despite US rates’ current momentum loss.

The greenback’s upward movement is due to a weakening risk complex and traders’ caution ahead of US inflation data. Chief Powell emphasizes the Federal Reserve’s reliance on statistics for interest rate adjustments. July’s CPI release was significant. Investors expect steady Fed interest rates for the rest of the year, with a potential early 2024 rate lowering. Philly fed P. Harker to appear on the US docket, discuss wholesale inventories, the balance of trade, and the NFIB optimism index.
USD maintains trade above 102,000 this week amid payroll results and caution ahead of US inflation data on August 10.
The DXY surge hits initial resistance at 102.80; the dollar faces challenges due to the Fed’s data-dependent policy and labour market cooling. Buck faces pressure due to rumours of July hike’s final hike cycle.US events this week include trade, inventories, mortgage applications, jobless claims, and producer prices. The US economy’s landing is a pressing topic, with speculation of a rate reduction in late 2023 or early 2024, political effervescence, and the US-China trade dispute.

USD Index up 0.23% at 102.31, with a break of 102.84 triggering 103.48, 102.57, and a sharp disagreement at 101.74, 100.55, and 100.00.

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