USD Index loses the grip and challenges 101.00 – by pabspiovano DollarIndex Currencies Majors
US yields extend the leg lower across the curve on Wednesday., which tracks the Greenback vs. a basket of its main competitors, gathers further selling pressure and challenges the key support at the 101.00 region on Wednesday.The index drops to multi-day lows and revisits the 101.00 neighbourhood on the back of the acute bounce in the risk-associated assets, eroding at the same time the strong advance seen in the previous session.
In the meantime, investors continue to favour a 25 bps rate hike by the Fed at the May 3 event, although the probability of that outcome shrinks a tad to around 75% . Looking at the broader picture, the index continues to navigate in a consolidative phase against steady expectations of another rate increase in May by the Fed.
, Pending Home Sales – PCE/Core PCE, Employment Cost, Personal Income, Personal Spending, Final Michigan Consumer Sentiment .: Persistent debate over a soft/hard landing of the US economy. Terminal Interest rate near the peak vs. speculation of rate cuts in 2024. Fed’s pivot. Geopolitical effervescence vs. Russia and China. US-China trade conflict.Now, the index is losing 0.79% at 101.04 and the breach of 100.78 would open the door to 100.00 and finally 99.81 .
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