Free Trial

DXY has added 5 pips and last sits at........>

DOLLAR
DOLLAR: DXY has added 5 pips and last sits at 98.09. WTI trades ~$0.2 lower,
with gold barely changed on the day.
- The index rose through yesterday's Asia-Pac session on the back of safe haven
demand, before easing off in the European morning. After topping out at 98.11,
DXY more than erased its initial gains ahead of the Wall Street opening bell,
sliding to 97.89. Subsequent recovery allowed DXY to retake neutral levels and
close almost unchanged.
- Yesterday's FOMC minutes reaffirmed that the patient stance on interest rates
would likely remain appropriate "for some time." For our piece highlighting the
key takeaways see MNI Main Wire at 10:00 BST 05/22.
- Sino-U.S. trade spat continues to draw interest. China gov't economist Zhang
noted that U.S.-China trade frictions could last until 2035, while Tsy Sec
Mnuchin said he has no plans of visiting China at the moment.
- DXY bulls target the recent YtD high of 98.33, bears eye the 21-DMA at 97.74.
- U.S. focus today turns to flash PMIs, new home sales and initial jobless
claims. Fed's Kaplan, Daly, Bostic and Barkin will jointly appear on a panel.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.