US Dollar Index: Hawkish Fed bets favor DXY bulls despite mixed US data, focus on PMI – by anilpanchal7 DollarIndex RiskAppetite Fed Inflation Politics
. In doing so, the US Dollar’s gauge versus the six major currencies portrays the market’s cautious mood as traders brace for the key data/events lined up during the all-important March month, comprising Federal Reserve Chairman Jerome Powell’s speech and Fed’s monetary policy meeting.
That said, the US Conference Board’s Consumer Confidence dropped for the second consecutive month to 102.9 versus 106.0 prior while US Housing Price Index drops 0.1% in December versus -0.6% market forecasts and -0.1% prior. On the same line, the S&P/Case-Shiller Home Price Indices grew 4.6% YoY during the said month compared to 6.1% market expectations and 6.8% previous readings. Furthermore, Chicago Purchasing Managers’ Index for February eased to 43.6 from 44.3 previous readings and 45.
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