USD Index climbs to fresh highs and targets 106.00 ahead of data, Powell – by pabspiovano DollarIndex Currencies Majors Fed
Markets now price in a 50 bps rate hike at the March 22 event., maintains the bid tone well and sound and approaches the 106.00 zone on Wednesday.The index extends the upside momentum sparked in the wake of the first semiannual testimony by Chair Powell on Tuesday and trades at shouting distance from the 106.00 region.
In the meantime, the US 2-year yields navigate above the 5% mark for the first time since June 2007, always amidst the broad-based move higher in the rest of the curve. The loss of traction in wage inflation – as per the latest US jobs report - however, seems to lend some support to the view that the Fed’s tightening cycle have started to impact on the still robust US labour markets somewhat.: MBA Mortgage Applications, ADP Employment Change, Balance of Trade, Powell’s Semiannual Monetary Policy Report, Fed’s Beige Book – Initial Jobless Claims – Nonfarm Payrolls,: Rising conviction of a soft landing of the US economy.
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