The greenback, in terms of the USD Index (DXY), adds to Friday’s small gains and revisits the 106.30 region at the beginning of the week. USD Index fo
USD Index The index advances for the second session in a row on Monday on the back of further correction in the risk-linked universe, while US yields remain directionless ahead of the opening bell in Euroland.
There have been no changes to the monetary policy front so far, where investors continue to price in an extra 25 bps rate hike by the Federal Reserve before year-end. In addition, the dollar gained extra strength after the US averted a federal government shutdown at the last minute, all following a Congress vote to pass a short-term funding bill over the weekend.
In the US docket, the ISM Manufacturing PMI will be in the limelight later in the session, seconded by Construction Spending, the final figures of the S&P Global Manufacturing PMI, and speeches by Philly Fed P. Harker , FOMC Governor M. Barr , and NY Fed J. Williams .The greenback looks to extend Friday’s lows, although it seems to have met some initial resistance in the 106.30 region so far.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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