US Dollar trading in positive territory on Monday after a slow start to the day.
The US Dollar (USD) is rising on Monday, with the US Dollar Index (DXY) coming close to a new two-year high.
The upward revisions in the Durable Goods release set the tone for a stronger greenback.
The developments come as the US dollar gained ground following the release of the November Preliminary Durable Goods report. As always, the precise amount is less important, with the significant upward revision from 0.3% to 0.8% propelling the Greenback higher.
The US economy The schedule will begin to calm down as of new, with only a few minor second-tier data items still to be provided. The US Treasury still has a lot of work ahead of it with multiple bond auctions. Meanwhile, a sigh of relief fills US markets as a government shutdown avoided at the last minute ahead of the Christmas and New Year’s holidays.
Daily market Update: Durable Goods home run.The US Dollar Index (DXY) is barely below a two-year high and could set a new one.
The federal shutdown averted in the closing hours of Friday. The White House said on Saturday that US President Joe Biden had approved legislation to finance the government until mid-March.
At 13:30 GMT, the Chicago Fed National Activity Index for November fell to -0.12 from -0.40 in the previous publication.
US Durable Goods The preliminary November release came in at -1.1%, compared to the prior 0.3%. However, the US Dollar rose following the change from 0.3% to 0.8%. The Durable Goods reading without Cars and Transportation was -0.1%, down from 0.2%.
At 15:00 GMT, the US Consumer Confidence Index for December will be release.
The US Treasury will have its job cut out on Monday with four auctions: At 16:30 GMT, the markets will allocate three-month, 52-week, and six-month bills. At 18:00 GMT, a 2-year note will be auctioned.
Asian equities are performing strongly, snapping a six-day losing trend.
Asian equities are performing strongly, snapping a six-day losing trend. European equities are still looking sluggish, while US futures are somewhat flat.
The CME FedWatch The tool for the first Fed meeting of 2025 on January 29 predicts a 91.4% chance of a steady policy rate and a minor 8.6% chance of a 25 basis point rate decrease.
The US 10-year benchmark rate is 4.56%, somewhat lower than last week’s high of 4.59%.
