USD Index maintains the bid bias unchanged above 102.00 ahead of ADP – by pabspiovano DollarIndex Currencies Majors
US yields look for direction in the European morning., which gauges the greenback vs. a bundle of its main competitors, keeps the optimism well and sound for yet another session on Wednesday.The index extends its sharp recovery from lows near 99.50 recorded in mid-July and looks to consolidate further the recent breakout of the key 102.00 hurdle amidst the weekly recovery in US yields across all maturities and the loss of traction in the risk complex.
Furthermore, speculation that the July hike might have been the last of the current hiking cycle is also expected to keep the buck under some pressure for the time being.MBA Mortgage Applications, ADP Employment Change – Initial Jobless Claims, Final Services PMI, ISM Services PMI, Factory Orders –Persistent debate over a soft or hard landing for the US economy. Terminal Interest rate near the peak vs. speculation of rate cuts in late 2023 or early 2024. Geopolitical effervescence vs.
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