PremiumStocks | Indices

Dollar Index: Daily Analysis & Update

The dollar index held above 106.5 on Friday and was set to finish the week higher as further evidence that the US economy stayed resilient reinforced that higher-for-longer view on interest rates. In the third quarter, the US economy expanded by an annualized 4.9%, comfortably surpassing the 4.3% forecast, primarily underpinned by robust consumer spending. Furthermore, durable goods orders witnessed a significant jump of 4.7% in September, the most substantial increase since July 2020, well above the market consensus of 1.7%.

While the Federal Reserve is widely expected to maintain steady interest rates at its upcoming policy meeting, it is anticipated to keep rates elevated for an extended period. The dollar was also lifted recently by the euro’s weakness, attributed to a dimming growth outlook in the Eurozone and as the European Central Bank’s tightening cycle appeared to have reached its conclusion.

✅  Register or Login.

Related posts

GBPUSD: Intraday Analysis & Update Setup


GBPUSD: Daily Analysis & Setup update


WTI ($USOIL): Intraday Analysis & Setup update


This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More