- The index adds to Thursday’s gains north of 102.00.
- US markets will be closed on the Monday.
- Investors started to assess the potential Fed’s move in July.
The USD Index (DXY) tracks the greenback, which starts the week on the positive foot and revisits the 102.40 region, marking an increase for the second session in a row so far.
- The index adds to Thursday’s gains north of 102.00.
- US markets will be closed on the Monday.
- Investors started to assess the potential Fed’s move in July.
The USD Index (DXY) tracks the greenback, which starts the week on the positive foot and revisits the 102.40 region, marking an increase for the second session in a row so far.
USD Index looks at risk trends, Fed
The index rises for the second session in a row and attempts to put further distance from last week’s multi-week lows around the 102.00 neighbourhood (June 16), as the recent upbeat mood in the risk complex appears to take a breather at the beginning of the week.
In the meantime, investors continue to expect a 25 bps rate hike by the Federal Reserve at the July 26 gathering following June’s hawkish skip, according to CME Group’s FedWatch Tool.
On another front, net longs in the greenback rose to the highest level since early April in the week ended on June 13, just ahead of the crucial FOMC event considering the latest CFTC report.
The only release of note in the US data space will be the NAHB Housing Market Index for the month of June amidst the inactivity in the domestic markets due to the Juneteenth holiday
The index rises for the second session in a row and attempts to put further distance from last week’s multi-week lows around the 102.00 neighbourhood (June 16), as the recent upbeat mood in the risk complex appears to take a breather at the beginning of the week.
In the meantime, investors continue to expect a 25 bps rate hike by the Federal Reserve at the July 26 gathering following June’s hawkish skip, according to CME Group’s FedWatch Tool.
On another front, net longs in the greenback rose to the highest level since early April in the week ended on June 13, just ahead of the crucial FOMC event considering the latest CFTC report.
The only release of note in the US data space will be the NAHB Housing Market Index for the month of June amidst the inactivity in the domestic markets due to the Juneteenth holiday
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