US Dollar Index: Fed hawks fell short of impressing DXY bulls, US Q4 GDP eyed – by anilpanchal7 DollarIndex RiskAppetite Fed GDP PMI
Fed hawks fail to impress DXY buyers amid talks of February’s 0.25% rate hike, policy pivot.
Mixed sentiment in the market, China’s Lunar New Year holidays also help contrinu to the previous moves. stays depressed for the fourth consecutive day as sellers poke the 101.90 level during early Monday. In doing so, the greenback’s gauge versus the six major currencies portrays the market’s dovish bias for the Federal Reserve , despite the policymakers’ multiple attempts to convince of their ability to hike.
The latest comments from the US Federal Reserve officials, ahead of a two-week ‘blackout period’ before the Fed meeting, favored further rate hikes and highlighted inflation fears inside the world’s biggest economy. Federal Reserve Governor Christopher Waller was the last from the US central bank speakers to cross the wires as he said, “He favors a 25 basis point rate hike at the upcoming meeting and continued policy tightening beyond that.
However, the Wall Street Journal states that Federal Reserve officials are preparing to slow interest-rate increases for the second straight meeting and debate how much higher to raise them after gaining more confidence inflation will ease further this year. The reason could be linked to the recent softer US Retail Sales and regional activity numbers that signaled the “soft landing” in the US.officials and optimism surrounding China also exert downside pressure on the DXY, mainly due to the greenback’s haven appeal.stockMoving on, the first readings of January’s Purchasing Managers Indexes for the key global economies will precede the US four-quarter Gross Domestic Product to entertain DXY traders.
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