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USD Index Now 2.5% Off Last Week's Highs

LATAM
  • With EURUSD making light work of yesterday’s highs and now breaching resistance at 20-day EMA, the greenback is among the poorest performers early Tuesday, extending the weakness noted on Monday as the USD Index extends the pullback off last week's cycle high. The USD Index is now near 2.5% off the best levels of last week and the Mexican peso continues to be buoyed, rising 0.65% overnight.
    • US housing data takes focus going forward, with housing starts and building permits data on the docket. ECB's Makhlouf is due to speak, although policy comments are likely few and far between given the proximity to Thursday's rate decision.

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