USD Index remains under pressure and drops to new 2023 lows – by pabspiovano DollarIndex Currencies Majors
Markets continue to price in a potential pause by the Fed.The greenback extends the weekly decline and prints new yearly lows in the 100.80/75 band when tracked by theThe index extends the leg lower for the fourth consecutive session and remains under heavy pressure on Friday, always against the backdrop of the marked improvement in the risk-associated universe.
Later in the US data space, Retail Sales will take centre stage along with Industrial Production, the advanced Michigan Consumer Sentiment and Business Inventories.The dollar remains on the back foot and keeps the price action around the index depressed, refocusing the attention at the same time to the psychological 100.00 mark in the near term.
In favour of a pivot in the Fed’s normalization process, however, still emerges the persevering disinflation, nascent weakness in some keyKey events in the US this weekEminent issues on the back boiler If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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