US Dollar Index looks to extend the rally above 92.00

DXY alternates gains with losses around 92.30.
US 10-year yields stay depressed near the 1.40% region.
The Chicago Fed index, Fedspeak next on tap within the docket.
The greenback starts the week in an inconclusive foot and prompts the US Dollar Index (DXY) to gyrate round the area of recent tops near 92.30.

US Dollar Index faces subsequent hurdle at 92.50
The index looks to feature to the recent strong advance, although it seems to possess met quite solid resistance within the vicinity of 92.50 for the nonce .

It is worth recalling that the sentiment for the dollar improved dramatically after the FOMC event last Wednesday opened the door to “talk about mention tapering” before anticipated by most investors, while the “dots plot” now signals two rate of interest hikes at some point in late 2023.

Adding to the above, further improvement in key fundamentals and better inflation could even bring forward a rate hike by end of 2022.



Read Previous

Natural Gas Futures: Probable consolidation near term

Read Next

Silver Price Analysis: XAG/USD rebounds from two-month lows, lacks follow-through

Leave a Reply

Your email address will not be published. Required fields are marked *