US Dollar Index: Bulls regain control and target 105.00, focus on Powell By pabspiovano DollarIndex Currencies Majors
Chief Powell’s testimony will be the salient event this week.US Dollar Index looks to Powell
The bid tone surrounding the buck follows investors’ expectations ahead of Powell’s Semiannual Monetary Policy Report before the US Senate, where the Fed’s next steps regarding its normalization process are expected to take centre stage. The dollar, in the meantime, remains well supported by the Fed’s divergence vs. most of its G10 peers in combination with bouts of geopolitical effervescence, higher US yields and a potential “hard landing” of the US economy, all factors supportive of a stronger dollar in the next months.: MBA Mortgage Applications, Powell’s Semiannual Testimony – Initial Claims, Flash PMIs, Powell’s Semiannual Testimony – Final Consumer Sentiment .
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