Flat trading on US dollar overnight

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Flat trading on US dollar overnight

ByScott Andrews


US index 25 06 2021

DXY traded quite flat with nothing surprising coming out from GDP and jobless claims coming closely in line with expectations. The Federal bank stress test came back with no failures with issues mentioned (Federal Reserve Board releases results of annual bank stress tests, which show that large banks continue to have strong capital levels and could continue lending to households and businesses during a severe recession). Last night at 20:30 GMT+8 Core Durable Goods Orders month on month came in at below expectations at 2.3% although much lower than last month at 1.7% . Tonight at 20:30 there is the Core PCE Price index for both year on year (3.4% forecasted and 3.1% previously) and month on month (0.6% forecasted and 0.7% previously). Then at 22:00 Michigan Consumer Expectations (83.8 excepted and 78.6 previously) and Michigan Consumer Sentiment (86.4 expected and 82.9 previously). Overall it seems that more stimulus is here with Joe Biden announcing spending on infrastructure, the next big event for the US dollar is the NFP release next week on Friday night and for now nothing is happening for the DXY until it tests recent resistance at 92.04.

 

Flat trading on US dollar overnight

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