US Dollar Index: DXY steadies above 101.00 amid pre-Fed anxiety, Powell’s speech, risk catalysts eyed – by anilpanchal7 DollarIndex Fed RiskAversion China Macroeconomics
That said, fresh challenges to the sentiment, mainly surrounding China, as well as due to the cautious mood ahead of the Federal Open Market Committee monetary policy meeting announcements, seem to underpin the DXY recovery. However, a lightin Asia and likely absence of the traders’ action, due to cautious mood ahead of the Fed and mixed catalysts, seem to prod the US Dollar Index traders.
Previously, the upbeat statements from China Communist Party's Politburo meeting and China state planner National Development and Reform Commission , signalled more stimulus from Beijing and bolstered the sentiment, which in turn weighed on the US Dollar. On the same line could be the recently downbeat statistics from the major economies which flag the end of the rate hike trajectory at the key central banks.
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