The DXY index trades neutral at 105.90, closing a 0.80% weekly gain. Fed hawks revived USD strength during the week.
UoM consumer sentiment data come in lower than expected. The focus shifts to next week’s inflation figure from the US from October.
The US Dollar showed minimal movement on Friday. The DXY index stood flat at 105.90 as bulls seem to be taking a hiatus. The Greenback strengthened after Fed’s hawks hinted that there may be further tightening, which revived the US Treasury, allowing the Dollar to gain interest.
Despite the United States’ labor market showing signs of cooling down last week, several officials, including Chair Powell, seemed unsatisfied with the progress made on inflation.
They spoke with cautious tones, welcoming the recent data but leaving the door open for further tightening in case it is needed. The focus seems to have turned to next week’s October inflation figures from the US.
Tags consumer sentiment data hawkish stance us dollar
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