The index alternates gains with losses near 102.00.
Chief J. Powell will testify once again later in the session.
Weekly Claims, housing data, Fedspeak next on tap in the docket.
The USD Index (DXY), which gauges the greenback vs. a bundle of its main competitors, trades in a cautious tone near the 102.00 area on Thursday.
USD Index looks at data, Powell
The index navigates in the lower end of the monthly range near the 102.00 neighbourhood following Wednesday’s post-Powell sharp pullback.
Indeed, the greenback saw its decline gather impulse despite Fed’s Jerome Powell signalled that further interest rate hikes remain in store, as the battle to tackle inflation is far from over.
Chief Powell will testify once again later on Wednesday, this time before the Committee on Banking, Housing and Urban Affairs, and investors expect the message to fall in line with the previous one.
In the US data space, usual Initial Jobless Claims are due seconded by the Chicago Fed National Activity Index, the CB Leading Index, Existing Home Sales and speeches by FOMC C. Waller (permanent voter, hawk), FOMC M. Bowman (permanent voter, centrist), Cleveland Fed L. Mester (2024 voter, hawk) and Richmond Fed T. Barkin (2024 voter, centrist).
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