USD INDEX LOOKS RANGE BOUND NEAR 105.70, LOOKS AT US CPI

The index trades without a clear direction on Tuesday.

All the attention will be on the release of October CPI figures.

Fed’s Barr, Goolsbee and Mester also speaks later.

The USD Index (DXY), which gauges the greenback vs. a bundle of its main rival currencies, alternates gains with losses around the 105.70 zone on turnaround Tuesday.

USD Index focuses on CPI, Fedspeak

The index navigates a narrow range in the sub-106.00 region so far, as investors’ sentiment remains flat ahead of the release of key US inflation figures for the month of October due later in the NA session.

Furthermore, the consolidation sentiment in the index seems to be supported by the subdued movement in US yields, while contradictory statements from certain Fed speakers contribute to the perception that the Federal Reserve may maintain a tighter monetary policy for an extended period. At the same time, investors also hold the belief that the central bank has finished raising interest rates.

Other than the release of US CPI, FOMC M. Barr (permanent voter, centrist), Chicago Fed A. Goolsbee (voter, centrist) and Cleveland Fed L. Mester (2024 voter, hawk) are also due to speak