The USD Index (DXY), which tracks the greenback vs. a bundle of its main competitors, extends the consolidative mood around the 106.60 at the beginnin
The index trades without direction around 106.60. Cautiousness should prevail ahead of the FOMC event. Nonfarm Payrolls will be the salient release later in the week. g of the week. USD Index remains capped by 107.00 The index trades in a vacillating mood on Monday on the back of increasing prudence among investors in light of key upcoming events in the US economy, namely: the Federal Reserve’s interest rate decision and the publication of October’s Nonfarm Payrolls .
What to look for around USD The upside momentum in the index seems to have met some initial obstacle just below the 107.00 barrier so far this week. In the meantime, support for the dollar keeps coming from the good health of the US economy and still elevated inflation, which morphs into higher yields and underpins the renewed tighter-for-longer narrative from the Federal Reserve.
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