USD Index looks offered below the 105.00 mark ahead of key data – by pabspiovano DollarIndex Currencies Majors
US yields extend the rally across the curve on Wednesday., which gauges the greenback vs. a basket of its main rival currencies, trades on the defensive well south of the 105.00 yardstick on Wednesday.The index fades Tuesday’s uptick and returns to the negative territory following an earlier failed attempt to retake the area above the 105.00 barrier.
Later in the US data space, all the attention will be on the release of the ISM Manufacturing for the month of February along with Construction Spending, the final Manufacturing PMI and weekly Mortgage Applications.The index loses the grip and return to the sub-105.00 region ahead of key results in the US docket midweek.
The loss of traction in wage inflation – as per the latest US jobs report - however, seems to lend some support to the view that the Fed’s tightening cycle have started to impact on the still robust US labour markets somewhat., ISM Manufacturing, Construction Spending – Initial Jobless Claims – Final Services PMI, ISM Non-Manufacturing .: Rising conviction of a soft landing of the US economy. Persistent narrative for a Fed’s tighter-for-longer stance. Terminal rates near 5.5%? Fed’s pivot.
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