USD Index comes under pressure around 105.50 ahead of data, NFP – by pabspiovano DollarIndex Currencies Majors
Bets for a 50 bps rate hike by the Fed continue to rise., starts the European trading hours slightly on the defensive and around the 105.50 region on Thursday.The index navigates a narrow range amidst a broad consolidative stance, which is in turn propped up by increasing cautiousness ahead of the release of the US jobs report on Friday.
According to FedWatch Tool measured by CME Group, the probability of a half point raise in March hovers around 77%, from just over 9% a month ago. In addition, the still elevated inflation as well as the solid labour market and the resilient economy in general also seem to underpin the tighter-for-longer stance from the Federal Reserve., Monthly Budget Statement .: Rising conviction of a soft landing of the US economy. Persistent narrative for a Fed’s tighter-for-longer stance. Terminal rates near 5.5%? Fed’s pivot. Geopolitical effervescence vs. Russia and China. US-China trade conflict.Now, the index is retreating 0.15% at 105.
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