US Dollar Index remains bid and targets 99.00 ahead of data By pabspiovano DollarIndex Currencies Majors
US yields resume gains supported by Fed’s tightening speculation., keeps the bid tone unchanged and trades close to the key barrier at the 99.00 barrier on Thursday.The index is up for the second session in a row so far on Thursday. The upside bias in the dollar remains underpinned by the resumption of the uptrend in US yields across the curve and firmer prospects for a faster/tighter normalization by the Federal Reserve, all seasoned by persistent geopolitical concerns.
In the meantime, yields continue its flattening process after the 2y note retest the 2.15% area and the 10y bond hover around the 2.35% region.space, Markit will publish the preliminary Manufacturing and Services PMIs for the current month. In addition, usual Initial Claims are due seconded by Durable Goods Orders and speeches by FOMC’s R.Waller , Chicago Fed C.Evans and Atlanta Fed R.Bostic .The weekly recovery in the dollar met resistance near 99.00 so far.
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