US dollar is trading flat at the start of this week.
The US Dollar (USD) is on the defensive, and statistics do not indicate to a quick rebound. In terms of weekly performance, the Greenback begins a third consecutive week of losses. Losing its grasp on many significant supportive critical levels in the US Dollar Index (DXY). US traders will return to the market in full force following the US holidays. And they will face a very heavy macroeconomic agenda this week. The US dollar is unchanged ahead of a busy calendar this week.
After Thanksgiving, US traders resumed their regular trading routine.
The US Dollar Index is on a downward trend that could lead to further losses this week.
The US Dollar (USD) is on the defensive, and statistics do not indicate to a quick rebound. In terms of weekly performance. The Greenback begins a third consecutive week of losses. Losing its grasp on many significant supportive critical levels in the US Dollar Index (DXY). US traders will return to the market in full force following the US holidays. And they will face a very heavy macroeconomic agenda this week. GMT will allocate a 2-year and a 5-year note on the markets.
The Commodity Futures Trading Commission (CFTC) will publish their weekly positioning data for the futures markets this evening about 20:30, which is an interesting albeit lagging signal. If investors who are net long USD have unwound further their positions in favor of other currencies, the posture in the US Dollar will be one to watch.
Equities are off to a bad start this week as earlier China data disappointed investors, lowering hopes for a quick turnaround in the Chinese economy. All indices are in the red, though by a small margin.
According to the CME Group’s FedWatch Tool, markets are pricing in a 96.8% possibility that the Federal Reserve will leave interest rates unchanged at current levels. its December meeting.
The benchmark 10-year US Treasury Note is trading at 4.48%, having briefly reached 4.51%.
