US Dollar Index: DXY pares the biggest daily jump in 19 weeks below 102.00, Fed inflation eyed – by anilpanchal7 DollarIndex Fed Inflation RiskAversion Macroeconomics
Strong US Q2 GDP Annualized, Durable Goods Orders and housing data fuelled DXY before the latest consolidation. seesaws around 13-day high, printing mild losses near 101.70 by the press time of Friday’s Asian session. In doing so, the greenback’s gauge versus the six major currencies struggles to justify the previous day’s bullish bias that fuelled the DXY the most in 19 weeks.
It should be noted that the US Federal Reserve’s inability to defend the hawkish bias despite announcing a 0.25% rate hike and leaving doors open for a September hike previously weighed on the US Dollar.Talking about the US data, the preliminary readings of the US Gross Domestic Product Annualized for the second quarter improved to 2.4% from 2.0% prior, versus 1.8% market forecast. On the same line, the US Durable Goods Orders also jumps 4.7% for June compared to 1.0% expected and 1.
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