US Dollar Index stays focused on trade, data
The index is looking to add to Friday’s advance to the 98.30/40 area, or weekly highs, amidst the absence of significant headlines around the US-China trade war and positive results from the US docket in past sessions.
In fact, Friday’s improvement in the final prints of US Consumer Sentiment tracked by the U-MIch index have given extra oxygen to the buck against the back drop of the usual rhetoric by President Trump that a deal with China is ‘close’, all helping the index to close the week on a positive note.
In the docket, the Chicago Fed index will be the sole release later today ahead of the Consumer Confidence gauge by the Conference Board and New Home Sales on Tuesday and another estimate of the Q3 GDP and PCE figures on Wednesday.
Ricktran111
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