US DOLLAR MAINTAINS POSITION ON QUIET MONDAY AS INVESTORS AWAIT INFLATION DATA
- USD steady course remains unaffected by geopolitical tensions despite the lack of substantial fundamentals.
- Fed officials maintain positive projections of the US labor markets amid looming concerns of slow job growth.
- The market maintains the previous week's predictions; the first rate cut is anticipated in September with marginally lower odds.
The US Dollar (USD), measured by the US Dollar Index (DXY), indicated continuous horizontal movement above the 103.00 level during Monday's trading session. This follows relatively quiet market sentiment and unaltered US stock index futures, with the 10-year US yield sticking close to 4% in the earlier part of the day.
Though market expectations for upcoming monetary policy decisions remain the same, the US economic outlook continues to suggest growth above trend, insinuating a potential overestimation of the market for aggressive easing in the future.
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