The dollar index shows early signs of recovery as traders anticipate pivotal economic data this week. Watch for crucial resistance and support levels in the DXY as traders navigate potential volatility.
The dollar index shows early signs of recovery as traders anticipate pivotal economic data this week.Watch for crucial resistance and support levels in the DXY as traders navigate potential volatility.The Fed 's aggressive move aims to tackle labor market risks and recession fears, but it also injects uncertainty into the markets.a 50% chance of another 50 basis point cut in November, making this week’s developments crucial for market expectations.
Additionally, the markets will watch the upcoming $1.2 trillion funding deadline, crucial for preventing a government shutdown and financing operations through the year's end. Overall, stocks’ decline at the end of last week reflects a waning risk appetite. The Fed's decision alone may not sustain market enthusiasm, making this week’s statements pivotal for future direction.The DXY index has started the week by recovering toward the 101 level. Last week, it held its average support around 100.5, indicating this area remains a crucial demand zone.
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