US DOLLAR STEADIES AS MARKETS HEAD BACK INTO RISK-ON MOOD
- The US Dollar trades mixed against its most major peers on Tuesday.
- Markets are going back into risk-on, picking up the drive from past Friday, as tensions in the Middle East ease somewhat.
- The US Dollar Index trades sideways, just below 101.00.
The US Dollar (USD) trades mixed on Tuesday’s European session, halting the mild recovery seen on Monday, with only one pattern on the quote board to retain. The US Dollar is up against most major Asian currencies such as the Japanese Yen (JPY) and the Korean Won (KRW). The risk-on mood seems to have returned to markets – with equities in the green across Asia, Europe, and US futures – as safe-haven flows retreat amid easing hostilities in the Middle East.
On the US economic calendar front, the Housing Price Index for June will be the main event to look at. the second element will be the Consumer Confidence Index for August. After the stellar Durable Goods Orders numbers from Monday, the Consumer Confidence Index should also head higher.
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