DXY to stay bid in the 106-107 range this week – ING

Market news

2 October 2023

DXY to stay bid in the 106-107 range this week – ING

The US Dollar Index strengthened by 3.2% in the third quarter. Economists at ING analyze DXY outlook.

Settling into a stronger Dollar

Given that long-dated US yields have been a big driver of the Dollar over recent weeks, perhaps a more settled week for the bond market means that the USD can just consolidate at the highs.

We note next week sees US three, ten and thirty-year US Treasury auctions and could be the next big driver for yields – assuming no major surprises from Friday's US jobs report.

DXY should probably stay bid in the 106-107 range this week.

Switzerland SVME - Purchasing Managers' Index registered at 44.9 above expectations (40.5) in September

Spain HCOB Manufacturing PMI came in at 47.7, above expectations (46.5) in September

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