DXY Futures Steady Below 104 Mark; All Eyes On US CPI Data

Published on Apr 10, 2024 11:59

The dollar index futures are staying cautiously below 104 mark on Wednesday morning in Asia awaiting crucial US inflation data that could provide further cues on Federal interest rates. The dollar index has been staying largely indecisive during the week despite a stronger than expected jobs data released last week. Fed officials reiterate that they need more clarity on sustained decline in inflation which rules out possibility of a near term rate cut. FOMC minutes from March`s meeting on Wednesday will also be awaited. Currently, DXY futures are trading at 103.92. Among the basket currencies, EURUSD and GBPUSD futures are quoting at $1.0882 and $1.2683 respectively.