US Dollar Index bulls take a breather as Fed’s preferred inflation, US Durable Goods Orders loom – by anilpanchal7 DollarIndex RiskAppetite Fed Inflation Currencies
In addition to the pre-data anxiety, sluggish US Treasury yields also allow the DXY bulls to take a breather. That said, the US 10-year Treasury yields remain sidelined around the monthly high after recalling the bulls, making rounds to 3.68% by the press time.
Even so, the US Senate’s passage of a $1.7 trillion government funding bill and the latest comments from US President Joe Biden showing readiness to tame inflation keeps DXY bulls hopeful.cheered strong prints of the US economic growth and personal consumption the previous day. US data renewed hawkish expectations from the US Federal Reserve and propelled the US Dollar. To talk about the statistics, the US economy expanded at an annualized rate of 3.
It’s worth noting that the sentiment-positive headlines from China and mixed US data, as well as the Bank of Japan’s moves, previously exerted downside pressure on the DXY. Amid these plays, S&P 500 Futures print mild losses while tracking the Wall Street benchmarks amid a sluggish Asian session.US Dollar Index recovery remains elusive unless the quote remains below a one-month-old descending resistance line, around 104.95 by the press time.
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