US DOLLAR EXTENDS SIDEWAYS TREND AS INVESTORS SIDELINE AHEAD OF INFLATION DATA... hagijeee から-フォローミートレーディングコミュニティ

14 Aug 2024, 18:12 · Views 89

The US Dollar trades broadly unchanged ahead of PPI numbers for July.
Carry and high-beta currencies are pushing back against the US Dollar.
The US Dollar index remains glued to the 103.18 pivotal level.

The US Dollar (USD) trades mixed on Tuesday, extending Monday’s little moves, with one single pattern that stands out on the quote board. The hurted carry and high-beta trades that were on the fence last week are currently outperforming against the Greenback, with the Polish Zloty (PLN), Australian Dollar (AUD), New Zealand Dollar (NZD) and Czech Koruna (CZK) as main gainers. Still, these moves are not visible at all in the DXY chart because the US Dollar is outperforming against the Japanese Yen (JPY).

On the economic data front, the calendar is starting to pick up a bit. The Producer Price Index (PPI) will be the main topic for this Tuesday in the run up towards the US Consumer Price Index (CPI) release on Wednesday. Overall, a decline in PPI numbers is expected across the board, reinforcing the thesis that inflation pressures are subsiding.

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