{"id":23173,"date":"2023-09-15T10:26:34","date_gmt":"2023-09-15T10:26:34","guid":{"rendered":"https:\/\/www.xtreamforex.com\/?p=23173"},"modified":"2023-09-15T10:26:34","modified_gmt":"2023-09-15T10:26:34","slug":"usd-index-corrects-lower-to-105-30-awaits-data","status":"publish","type":"post","link":"https:\/\/www.xtrememarkets.com\/MU\/usd-index-corrects-lower-to-105-30-awaits-data\/","title":{"rendered":"USD Index Corrects Lower to 105.30, Awaits Data"},"content":{"rendered":"

USD Index Corrects Lower to 105.30, Awaits Data<\/strong><\/h1>\n

The USD Index (DXY), measuring the greenback against its major counterparts, experiences a slight retreat, trading around the 105.30 level at the week’s end. This decline comes after three consecutive daily gains that followed Thursday’s peak in the 105.40\/45 range.<\/span><\/p>\n

The subdued risk appetite across global markets puts pressure on the US dollar<\/strong><\/a>. European markets open with caution, still digesting the outcomes of the recent ECB meeting. Additionally, US yields, which rose on Thursday, are poised to continue their advance.<\/span><\/p>\n

Market sentiment surrounding the Federal Reserve’s upcoming actions is undergoing a shift. Bets on a 25 basis point rate hike in November are waning, while speculation about interest rate cuts in the second quarter of the next year gains traction.<\/span><\/p>\n

On the economic calendar, the US is set to release data on Export\/Import Prices, followed by reports on Industrial\/Manufacturing Production, Capacity Utilization, and the preliminary figures for Consumer Sentiment for the current month.<\/span><\/p>\n

Key Points for the USD:<\/strong><\/p>\n

– The USD Index maintains its upward bias, with potential to revisit the 2023 peak near 105.90, recorded on March 8.<\/span><\/p>\n

– The US dollar continues to find support from the robust US economy. However, the Federal Reserve’s commitment to a tighter monetary policy appears somewhat diminished, given ongoing disinflation and signs of a cooling labor market.<\/span><\/p>\n

Key Events in the US This Week:<\/strong><\/p>\n

– Industrial Production<\/span><\/p>\n

– Advanced Michigan Consumer Sentiment (Friday)<\/span><\/p>\n

Ongoing Concerns:<\/strong><\/p>\n

– The debate persists regarding whether the US economy will experience a soft or hard landing.<\/span><\/p>\n

– Emerging speculation about potential rate cuts in early 2024.<\/span><\/p>\n

– Ongoing geopolitical tensions involving Russia and China.<\/span><\/p>\n

In summary, the USD Index retraces slightly to 105.30 as it awaits a batch of economic data. The dollar’s outlook remains influenced by evolving economic conditions and changing expectations regarding Federal Reserve policy.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

USD Index Corrects Lower to 105.30, Awaits Data The USD Index (DXY), measuring the greenback against its major counterparts, experiences a slight retreat, trading around the 105.30 level at the week’s end. This decline comes after three consecutive daily gains that followed Thursday’s peak in the 105.40\/45 range. The subdued risk appetite across global markets<\/p>\n... continue reading<\/a>.","protected":false},"author":3,"featured_media":23174,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[17],"tags":[265,168,165,19,157,162,293,22,201],"yoast_head":"\r\nUSD Index Corrects Lower to 105.30, Awaits Data<\/title>\r\n<meta name=\"description\" content=\"The USD Index (DXY), measuring the greenback against its major counterparts, experiences a slight retreat, trading around the 105.30 level at the week's end.\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.xtrememarkets.com\/MU\/usd-index-corrects-lower-to-105-30-awaits-data\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"USD Index Corrects Lower to 105.30, Awaits Data\" \/>\r\n<meta property=\"og:description\" content=\"The USD Index (DXY), measuring the 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