US DOLLAR SOFTENS AFTER MIXED DATA, DOVISH FED COMMENTS
- US Dollar Index retreats to 106.50 and continues hitting a barrier near 107.00.
- Dollar weakens on Fed's Williams hinting at inflation cooling and rate reduction.
- Fed officials remain cautious amid persistent inflation concerns and uncertainty about future rate decisions.
- Mid-tier data from the US came in mixed on Thursday.
In Thursday's session, the US Dollar Index (DXY) flattens after Fed's Williams indicated a potential cooling of inflation and a subsequent decline in interest rates. On the data front, the data for Jobless Claims came in below expectations, while Manufacturing data raised concerns among investors. The DXY hovers around 106.50, indicating a possible move to find support for a rebound.
The DXY maintains an overall bullish momentum, supported by strong economic data and a less dovish Federal Reserve (Fed) stance. Its upward trajectory is driven by hawkish rhetoric, risk-off sentiment and geopolitical tensions. The uptrend is intact with limited expectations of aggressive Fed easing.
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.