USD Index may keep hovering around 103 into next week’s CPI report– ING
|The Dollar is struggling to find clear direction in the current market environment. Economists at ING think the greenback may lack clear direction until next week’s inflation data.
The waiting game is on
“We suspect key Dollar crosses will stay rangebound until the next key data releases. Next week’s CPI is the real risk event. And if the general risk environment proves resilient for another session today, the Dollar should still find a floor on the back of some defensive positioning ahead of next week’s inflation data, as happened in the run-up to the Fed meeting.”
“Fed communication remains important, but secondary to data. Additional policy remarks from the Fed’s Christopher Waller and Patrick Harker today are not likely to be a game changer for the Dollar.”
“DXY may keep hovering around the 103 handle into next week’s CPI report.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.