OCBC strategists Sim Moh Siong and Christopher Wong argue the US Dollar (USD) remains supported by higher Oil prices, firm US yields and resilient Federal Reserve (Fed) expectations, but not yet breaking out of its recent range. They note markets are focused on energy, US inflation and earnings, with a decisive USD move likely requiring a meaningful upside surprise in core CPI. The base case is for a supported but range-bound USD.

Commerzbank’s Thu Lan Nguyen discusses how the US Dollar (USD) reacted to Federal Reserve Chair Kevin Warsh’s move away from traditional forward guidance.

ING strategists Francesco Pesole, Frantisek Taborsky and Chris Turner note that several indicators show the Dollar rally is stretched, with the currency overvalued against most G10 peers and positioning extended. However, they argue that without a clear macro or market catalyst, an imminent reversal is unlikely, as sticky Fed tightening expectations and global bond weakness continue to support demand for the Dollar.

Dow Jones futures rise by 0.61% to trade near 52,430 during European hours on Tuesday. S&P 500 futures remain steady around 7,850, while Nasdaq 100 futures fall 0.56% to near 30,730.

The US Dollar (USD) trades lower against its major currency peers on Tuesday due to lower United States (US) Treasury Yields.

The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, drifts lower during the Asians session on Tuesday, eroding a part of the previous day's strong gains to a fresh high since April 2025.

Micron fell about 4% on Monday and the NASDAQ 100 fell with it, while the Dow Jones Industrial Average, which holds no memory-chip maker, finished higher. The S&P 500, which holds Micron and all 30 Dow members, finished slightly lower.

Buyers are stepping in and keeping the US Dollar (USD) bid due to safe-haven demand, as the resumption of hostilities in the Middle East and the exchange of strikes between Russia and Ukraine have pushed energy prices higher.

US President Trump said on Friday that Russia and Ukraine had agreed to stop striking each other's energy sites, and Brent fell below $103 a barrel when markets reopened.

ING’s Chris Turner notes that the Dollar stays well supported as markets focus on solid US growth, above-target inflation and expectations for further Federal Reserve tightening. A potentially strong US September CPI is seen keeping rate expectations elevated. Turner highlights DXY consolidation above 102 as bullish and prefers a move towards 102.85 this week, with geopolitics offering additional support.

MUFG’s Lee Hardman notes the Dollar index is holding just above 102.00 as softer US data and cautious Federal Reserve (Fed) communication have reduced expectations for immediate rate hikes. Markets now price only modest tightening this month.

Dow Jones futures advance by 0.21% to trade near 52,030 during European hours on Monday. S&P 500 futures gain 0.25% to around 7,880, while Nasdaq 100 futures rise 0.15% to near 31,150.

The US Dollar (USD) trades subduedly at the start of the United States (US) Consumer Price Index (CPI) week. In the European trade, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades almost flat at around 102.22.

The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, attracts fresh sellers at the start of a new week, sliding back closer to the 102.00 mark during the Asian session.

Four sessions after its highest level since April 2025, the Dollar Index hasn't got back to it. The index trades near 102.25 and has made a lower high in each session since Wednesday.

Brown Brothers Harriman’s Elias Haddad notes that a modest pullback in energy prices has eased the global bond sell-off and slowed the recent Dollar rally. However, he stresses that US growth outperformance and strong foreign appetite for US securities keep USD risks skewed to the upside.

The University of Michigan (UoM) will release the preliminary estimate of the United States (US) October Consumer Sentiment Index on Friday.

Dow Jones futures inch higher by 0.05% to trade near 51,520 during European hours on Friday. S&P 500 futures gain 0.33% to around 7,840, while Nasdaq 100 futures rise 0.82% to near 31,220.

The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, extends the previous day's retracement slide from the vicinity of an 18-month high and attracts some sellers for the second straight day on Friday.

OCBC’s Sim Moh Siong and Christopher Wong note that lower US Treasury volatility, if sustained, could help high-beta currencies and EM carry trades, even as the Dollar stays supported. They highlight solid 10-year and 30-year auctions and a recent decline in the MOVE index.

The US Dollar (USD) extends its decline against its major peers on Friday as United States (US) Treasury Yields correct after failing to extend the rally.

The US President Donald Trump posted on this Truth Social media account that discussions with Iran continued, and that the US will not attack Iran at any time prior the midterm elections, held in November 3.

102.50 has stopped the Dollar Index on Monday, Wednesday and Thursday, and a call for more rate hikes from Fed Governor Waller on Thursday didn't get it any further. The index trades near 102.30, inside the range it has held since October 1.

Brown Brothers Harriman’s (BBH) Elias Haddad notes that higher Oil prices are pressuring stocks and bonds while supporting a firmer Dollar. The FOMC minutes showed most participants backing another rate increase by year-end, with futures fully pricing a 25 bps hike to 4.00–4.25%.

MUFG’s Lee Hardman notes the Dollar index is holding near year-to-date highs even as US rate markets pare back expectations for further Federal Reserve tightening.

Dow Jones futures decline by 0.56% to trade near 51,160 during European hours on Thursday. S&P 500 futures fall 0.28% to around 7,830, while Nasdaq 100 futures lose 0.44% to near 31,270.

The US Dollar (USD) trades broadly firm against its major currency peers amid elevated United States (US) Treasury Yields and hawkish Federal Reserve (Fed) interest rate expectations.

ING’s Chris Turner notes the Dollar remains supported after September FOMC minutes showed a Federal Reserve still expecting another rate hike this year.

The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, drifts lower during the Asian session on Thursday and extends the previous day's modest pullback from the vicinity of its highest level since April 2025. The index, however, holds above the 102.00 mark.

The yield on the US 10-year Treasury note touched 5.35%, its highest since April 2002, and the 30-year bond hit a 24-year high. Brent is back above $100 a barrel after Iran stepped up attacks on tankers in the Strait of Hormuz. Dearer Oil means faster inflation, so bond buyers want a bigger yield.