USD Index climbs to daily highs near 101.60 as risk-off prevails – by pabspiovano DollarIndex Currencies Majors
The resurgence of the risk aversion underpins the US Dollar.The demand for the Greenback intensifies on the back of persistent risk aversion and lifts theBanking jitters resurface and favours the re-emergence of the risk-off sentiment, which in turn morphs into extra upside pressure for the Buck.
Meanwhile, investors seem convinced of another 25 bps rate hike by the Federal Reserve at its meeting on May 3 amidst hawkish Fedspeak and with inflation still way above the Fed’s 2.0% target. At the same time, a source of potential weakness for the Dollar comes from rising speculation of anIn the US data space, the the FHFA’s House Price Index expanded 0.5% MoM in February, while the Consumer Confidence tracked by the Conference Board and New Home Sales are due later in the NA session.
In favour of a pivot in the Fed’s hiking cycle following the May event appears the persevering disinflation and nascent weakness in some key: House Price Index, CB Consumer Confidence, New Home Sales – MBA Mortgage Applications, Durable Goods Orders, Advanced Goods Trade Balance – Flash Q1 GDP Growth Rate, Initial
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