Free Trial

USD Index Prints Fresh Cyclical Highs

LATAM
  • The USD index has touched fresh cyclical highs of 109.48 overnight and currently resides +0.3% as we approach the US session. We have to go back to 2002 for higher levels. Dollar strength has been broad based against both the majors and Asian FX. Focus has rested on US yield moves, with the 2yr getting back to levels last seen in 2007 (+7bps to 3.466% today).
  • This remains a key source of USD support, while other cross asset signals have remained supportive as well, mainly major equity benchmarks a sea of red to start the week.
  • Worth noting there is a UK bank holiday, however, a speech from ECB Chief Economist Lane is due, followed by the Dallas Fed manufacturing activity data, and potential comments from Fed Vice Chair Brainard.
  • On the LatAm docket, we have the BCB focus survey, Brazilian jobs, outstanding loans and Federal debt data.

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.