The index moves lower and approaches 103.00.
US yields maintain the march north unabated.
Fedspeak, housing data will take centre stage later on Tuesday.
The greenback, in terms of the USD Index (DXY), grinds lower and puts the 103.00 region to the test on turnaround Tuesday.
USD Index looks at Fedspeak, Jackson Hole
The index grinds lower and flirts with the key 200-day SMA in the 103.20/15 band amidst further improvement in the risk complex during the first half of the week.
The so far weekly corrective move in the greenback also comes amidst the continuation of the upside momentum in US yields, where the short end revisits tops around the key 5.0% threshold and the 10-year benchmark navigates levels last seen in November 2007 past 4.30%.
In the meantime, market participants maintain a cautious trade ahead of the imminent Jackson Hole Symposium and Chief Powell’s speech (Thursday and Friday), where consensus expects his message to fall in line with the latest FOMC meeting on July 26.
In the US data space, Existing Home Sales for the month of July are due seconded by the August Richmond Fed Manufacturing Index and speeches by Richmond Fed T. Barkin (2024 voter, centrist), FOMC Governor M. Bowman (permanent voter, centrist), and Chicago Fed A. Goolsbee (voter, centrist)
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