DXY stabilised at 90
#OPINIONLEADER# #USDollarIndex#
ByScott Andrews
MAY 28, 2021
US index 28 05 2021
As attached the DXY closed the session above 90 only slightly with the market absorbing the GDP and Unemployment claims data in a neutral stance going by the reaction. With the Unemployment Claims data (Actual: 406K, Forecast: 427K, Previous: 444K) and the Preliminary GDP q/q (Actual: 6.4%, Forecast: 6.5%, Previous: 6.4%). Therefore it seems that the return of the work force continues and this aids the case for a easing of inflation fears and a down beat on the US dollar strength. Tonight at 22:00 (GMT+8) time zone the Michigan Consumer Expectations are released with the forecast at 77.6 and inflation expectations coming out the same time with a forecast of 4.65. I’ll be on the sidelines here and waiting to see how markets react to these data releases and several others at 20:30.
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