- The index alternates gains with losses around 102.60.
- Decent support emerges around the 102.00 mark so far.
- Durable Goods Orders, Flash PMIs next on tap later in the day.
The greenback, when tracked by the USD Index (DXY), trades in a flattish fashion around 102.60 at the end of the week.
USD Index now looks at data
The index seems to have met some firm contention around the 102.00 neighbourhood – or multi-week lows – so far this week, as market participants continue to digest Wednesday’s dovish hike by the Federal Reserve and the dovish tilt at Powell’s press conference.
In the meantime, speculation of a pause in the Fed’s hiking cycle continues to run high and underpins the current bearish sentiment around the dollar, while easing banking jitters also prop up the risk complex and represent another source of weakness for the buck.
Later in the NA session, Durable Goods Orders for the month of February are due seconded by advanced Manufacturing/Services PMIs and the speech by St. Louis Fed J.Bullard (2025 voter, hawk).
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