DOLLAR INDEX REMAINS VIGILANT AHEAD OF KEY US DATA

Published on May 14, 2024 11:41

The US dollar is staying largely unmoved on Tuesday morning in Asia awaiting a batch of US data this week. Markets look ahead to US consumer price, producer prices, retail sales figures and Federal Reserve Chair Jerome Powell�s remarks due for the week. The dollar index futures are lingering close to 105 mark looking for cues on Federal interest rate stance as recent comments from Fed officials sounded hawkish. Most of the major currencies also moved little tracking a steady dollar overseas. Currently, DXY futures are quoting at 105.15, mildly up on the day. Among the basket currencies, EURUSD and GBPUSD are both marginally lower and are quoting at $1.0802 and $1.2557 respectively.