The USD Index (DXY), which gauges the greenback vs. a basket of its main rival currencies, remains under pressure following the recent breakdown of th
The index trades in the lower end of the range near 105.70. Investors’ attention will be on the release of Producer Prices. The Fed will publish its Minutes of the September meeting. e 106.00 support. USD Index focuses on PPI, FOMC Minutes The index extends the bearish move sparked soon after hitting fresh yearly tops near 107.30 and navigates the area of 105.70 on Wednesday, recording at the same time new monthly lows.
Additional data includes the usual weekly report on Mortgage Applications by MBA. What to look for around USD The price action around the index remains depressed and in the area of monthly lows around 105.70 ahead of the release of key data in the US calendar on Wednesday. In the meantime, support for the dollar keeps coming from the good health of the US economy, which at the same time appears underpinned by the renewed tighter-for-longer stance narrative from the Federal Reserve.
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