DXY may well trade a 103.50-104.00 range today – ING
Source Fxstreet
The US Dollar Index (DXY) rises to 104.00. Economists at ING analyze Greenback’s outlook.
A lower housing starts figure could prove a mild Dollar negative
The US calendar is quiet ahead of Wednesday's FOMC meeting. With the market now just pricing 68 bps of Fed cuts this year, the FOMC could prove a mild Dollar negative. For the time being, however, the risk of the Fed Dots shifting to just 50 bps of cuts this year could continue to prompt some modest Dollar short covering.
One thing to mention regarding today's data is the housing starts. Democrats are starting to put pressure on the Fed over the locked-up housing market; no one wants to move home and lose a 3% mortgage rate. A lower housing starts figure could prove a mild Dollar negative.
DXY may well trade a 103.50-104.00 range today.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
AI Boom Lifts US Stocks, Strategist Sees S&P Breaking 10,000 in Three Years, How Much Longer Can This Rally Last? U.S. stocks closed at record highs again on Monday; despite growing concerns that a prolonged conflict in Iran through the summer could trigger severe economic consequences, the rally rem
U.S. stocks closed at record highs again on Monday; despite growing concerns that a prolonged conflict in Iran through the summer could trigger severe economic consequences, the rally rem
Gold drifts higher to near $4,750 ahead of US CPI inflation releaseGold price (XAU/USD) trades in positive territory around $4,750 during the early Asian session on Tuesday. The precious metal edges higher as traders assess developments in the United States (US)-Iran diplomacy and await key US inflation data, which is due later on Tuesday.
Gold price (XAU/USD) trades in positive territory around $4,750 during the early Asian session on Tuesday. The precious metal edges higher as traders assess developments in the United States (US)-Iran diplomacy and await key US inflation data, which is due later on Tuesday.
When Will the Gold Dilemma Be Resolved? Breakdown of US-Iran Negotiations Puts Gold Prices Under Pressure Again, Can It Return to $5,000? Spot gold broke below the $4,700 level during the Asian trading session on May 11, dropping as low as $4,678. As of press time, it was trading at $4,670, in stark contrast to three days a
Spot gold broke below the $4,700 level during the Asian trading session on May 11, dropping as low as $4,678. As of press time, it was trading at $4,670, in stark contrast to three days a
International oil prices surged in early Asian trading after U.S. President Trump and Iran rejected each other's latest long-term peace proposals. Both major crude oil futures rose by mor
Gold slumps below $4,700 on Trump rejection of Iran peace proposalGold price (XAU/USD) falls to around $4,690 during the early Asian session on Monday. The precious metal attracts some sellers after US President Donald Trump rejected Iran’s latest peace offer to end the 10-week conflict choking the Strait of Hormuz, fanning inflation fears.
Gold price (XAU/USD) falls to around $4,690 during the early Asian session on Monday. The precious metal attracts some sellers after US President Donald Trump rejected Iran’s latest peace offer to end the 10-week conflict choking the Strait of Hormuz, fanning inflation fears.
Related Instrument
