US Dollar steady as traders await PCE inflation, Durable Goods data DollarIndex Macroeconomics UnitedStates
US debt-ceiling talks continue into Friday, Biden mentions possible spending freeze and denies default.. The is in wait-and-see mode early on Friday as traders await more economic data out of the US to assess which way to take. The US debt ceiling keeps making headlines, with more details being released about a possible deal, although an agreementlooks almost close to impossible. US President Joe Biden gave more details about the talks and reiterated that there will be no default on his watch.
US equity futures are mixed to unchanged at the start of this Friday, while the Chinese Hang Seng Index closed nearly 2% lower. On the upside, 105.73 still acts as long-term price target to hit, as the next upside key level for the US Dollar Index is at 104.00 , and acts as an intermediary element to cross the open space.
It is a non-standard policy measure used when credit has dried up because banks will not lend to each other . It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed's weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar.
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