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
Natural Gas sinks to pivotal level as China’s demand slumpsNatural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
ECB Policy Outlook for 2026: What It Could Mean for the Euro’s Next MoveWith the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
With the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
Gold price (XAU/USD) slumps to around $4,775 during the early Asian session on Monday. Traders digest renewed tensions between the United States (US) and Iran over the critical Strait of Hormuz.
Over the weekend, the U.S. and Iran engaged in a new round of maneuvering over the situation in the Middle East, leading to a rapid escalation in geopolitical risks. As a result, internat
Gold price (XAU/USD) trades on a flat note near $4,825 during the early Asian session on Tuesday. The precious metal steadies amid renewed geopolitical instability in the Middle East.
Related Instrument
