USD INDEX RECEDES FROM 2023 TOPS NEAR 106.80
The index comes under some downside pressure near 106.60.
US yields extend the move higher to new multi-year highs.
Final Q2 GDP figures, weekly Claims, Fedspeak next on tap.
The greenback now faces some selling pressure and recedes to the 106.60 region when tracked by the USD Index (DXY) during the European morning on Thursday.
USD Index looks at data, yields
The index now gives away part of the recent four-session advance, including Wednesday’s move to new YTD peaks in the 106.80/85 band, and revisits the 106.60 area on the back of some mild recovery in the appetite for the risk complex.
In the meantime, the rally in the greenback remains well supported by the persistent sell-off in the US bonds markets, which in turn propelled yields to multi-year tops in response to investors’ perception that the Federal Reserve would surely maintain its restrictive stance for a longer period.
In the US data space, the final figures of Q2 GDP will take centre stage seconded by usual weekly Initial Claims, Pending Home Sales and speeches by Austan Goolsbee (Chicago), Lisa Cook (FOMC Governor). In addition, Chief Jerome Powell will participate in an event with educators in Washington DC
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.