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
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading sideways within consolidation ranges on Friday, signaling a lack of directional bias in the broader crypto market.
West Texas Intermediate (WTI) US Crude Oil prices reverse a modest Asian session dip to sub-$66.00 levels and climb back closer to the highest level since August 4, touched earlier this Friday.
Gold price (XAU/USD) holds positive ground near $5,000 during the early Asian session on Friday. The precious metal edges higher as escalating tensions between the United States (US) and Iran boost safe-haven demand.
West Texas Intermediate (WTI) Oil price gains ground and is trading around $65.70 per barrel during the European hours on Thursday.
Silver Price Forecast: XAG/USD rises to near $78.00 on safe-haven demandSilver price (XAG/USD) extends its gains for the second successive session, trading around $78.00 per troy ounce during the Asian hours on Thursday. The precious metal Silver receives support from rising safe-haven demand amid persistent tensions between the United States (US) and Iran.
Silver price (XAG/USD) extends its gains for the second successive session, trading around $78.00 per troy ounce during the Asian hours on Thursday. The precious metal Silver receives support from rising safe-haven demand amid persistent tensions between the United States (US) and Iran.
Related Instrument
