US Dollar Index struggles to defend recovery above 104.00 ahead of US GDP – by anilpanchal7 DollarIndex RiskAppetite Fed Inflation GDP
ing so, the greenback’s gauge versus the six major currencies portrays the market’s holiday mood, as well as the cautious sentiment ahead of this week’s key data, namelyThe DXY cheered upbeat US data and challenges to sentiment emanating from Russia to print the first daily gain in three the previous day.
That said, the US Conference Board’s Consumer Confidence jumped to the eight-month high of 108.3 for December, compared to the market forecasts of 101.0 and the revised prior readings of 101.40.
official Mario Centeno join mixed comments from US President Joe Biden and Ukrainian President Zelensky to restrict the DXY moves amid mixed mood. While portraying the mood, the S&P 500 Futures print mild gains amid sluggish yields and mixed performance in the Asia-Pacific markets. Moving on, risk catalysts could direct intraday DXY moves ahead of the US GDP and Core PCE data for Q3. US GDP is expected to confirm 2.9% Annualized growth in Q3 while the Core PCE is anticipated to also meet the initial forecasts of 4.6% QoQ during the stated period. Also important will be Friday’s Core PCEA five-week-old bearish channel restricts DXY moves between 102.90 and 104.60.
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