Daily digest market movers: DXY extends gains on strong housing data ahead of Fed decision
- Housing Starts in February reported by the US Census Bureau demonstrated a 10.7% MoM increase, rebounding from a -12.3% reading in the previous report.
- Building Permits (Feb) came in at 1.521M, higher than the 1.425M expected.
- The market currently anticipates the Fed remaining on its hawkish path, factoring in a 10% likelihood of a rate cut in May and a 65% chance in June. However, those odds may change after Wednesday’s FOMC decision.
- The 2-year yield is currently trading at 4.70%, while the 5-year yield stands at 4.31% and the 10-year yield at 4.30%.
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