USD Index regains some poise near 104.30, looks at data, debt ceiling – by pabspiovano DollarIndex Currencies Majors
US lawmakers will vote on the debt ceiling bill late on Tuesday., flirts with recent tops in the 104.40/50 band ahead of the opening bell in the old continent on turnaround Tuesday.The index regains balance following Monday’s Memorial Day holiday and advances to the area of recent multi-week highs near 104.50 as US traders return to their desks on Tuesday.
In fact, the bill is anticipated to be voted on by the House Rules Committee on Tuesday afternoon. Three of the nine Republicans on the panel, which is split 9-4 between Republicans and Democrats, are conservative hardliners who are opposed of the arrangement, which means they may kill the package if no Democrats vote for it.
In the US data space, the Consumer Confidence gauge tracked by the Conference Board will take centre stage seconded by FHFA’s House Price Index for the month of March.The index picks up fresh pace and trades close to recent highs in the 104.40/50 band on Tuesday. , Final Manufacturing PMI, ISM Manufacturing PMI, Construction Spending – Nonfarm Payrolls, Unemployment Rate .: Debt ceiling. Persistent debate over a soft/hard landing of the US economy. Terminal Interest rate near the peak vs. speculation of rate cuts in late 2023/early 2024. Fed’s pivot. Geopolitical effervescence vs. Russia and China. US-China trade conflict.Now, the index is up 0.14% at 104.41 and the surpass of 104.45 would open the door to 105.65 and then 105.88 .
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