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Dollar Index: Daily Analysis & Intraday Forecast

U.S. inflation data on Tuesday could halt the dollar’s recent falls, ING currency analyst Francesco Pesole says in a note. The dollar starts the week steady after a steep decline on Friday following U.S. data showing non-farm payrolls rose more than expected in February but January’s bumper increase was revised significantly lower. “We expect inflation figures to put a stop to the dollar decline this week.” The data are expected to show inflation remains high enough to suggest interest-rate cuts aren’t imminent, Pesole says. U.S. annual CPI is forecast at 3.1% in February, according to the consensus in a WSJ poll. The DXY dollar index is steady at 102.68, having hit an 8-week low of 102.358 on Friday.

 

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