US Dollar Index stays firmer past 105.00 as DXY traders await US inflation, Fed’s action – by anilpanchal7 DollarIndex RiskAppetite Fed Inflation Currencies
ly Monday. In doing so, the greenback gauge portrays the market’s rush toward the US Dollar ahead of the key data/events.
That said, the greenback’s latest run-up could be linked to the talks of the US recession, as well as recently firmer US data. The economic slowdown fears could be linked to the yield curve inversion as the US 10-year Treasury bond yields and the two-year bond coupons portray a negative difference, suggesting the market’s preference for the short-term US TreasuryRecently, US Treasury Secretary Janet Yellen said, “There's a risk of a recession, but it certainly isn't something that is necessary to bring inflation down.” matched the market forecasts of 7.4% YoY for November versus 8.1% prior.
Amid these plays, the S&P 500 Futures print mild losses while tracking Friday’s downbeat close of Wall Street whereas the US 10-year Treasury yields remain firmer around 3.58%. It should be observed that the US 2-year Treasury bond yields flash 4.35% as the latest quote. Moving on, the US Consumer Price Index for November and the Federal Reserve’s guidance on the rates, indirectly though, will be crucial for the DXY traders as bulls flex muscles. However, as the 0.50% rate hike is already priced-in, an absence of a major hawkish statement could recall the US Dollar bears. That said, a light calendar on Monday might result in an inactive day.
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