Look at that! US Dollars Like To 'Show Stripes' Again

thecekodok


The US dollar is seen to have managed to defend its position at the end of last week when it showed a re-strengthening in the trading of the last sessions.


US durable goods orders data posted a better figure for September than the previous month, as did a consumer survey by the University of Michigan that was updated to an uptick.


The US dollar showed its value increase again to continue the excellent performance that has been recorded for 4 consecutive weeks.


The focus will be on some important economic data this week that will also be of concern to the Federal Reserve (Fed).


US employment and economic growth data will influence the assessment of the direction of the Fed's monetary policy for the remaining meeting at the end of 2024.


The dollar index (DXY) has returned to show an increase again to the level of 104.50 points to overcome the height reached earlier around 104.57.


Meanwhile, the US 10-year treasury yield peaked at 4.28%, higher than last week's 4.26%.


Analysts expect market movements at the beginning of the week to be slow, but will favor the US dollar which tends to continue its strengthening.


The risk for investors is also increasing with trading uncertainty at the end of the month in addition to being decorated by high-impact data throughout this week.

Tags