USD Index to stay bid in the 104.00 to 104.60 range – ING

Market news

8 February 2024

USD Index to stay bid in the 104.00 to 104.60 range – ING

US Dollar (USD) holds steady with the USD Index (DXY) moving sideways near 104.00. Economists at ING analyze Greenback’s outlook.

Dollar to trade on the firm side heading into Friday's US CPI benchmark revisions

We suspect the Dollar will continue to trade on the firm side heading into Friday's US CPI benchmark revisions – but the Dollar could sell off afterwards and risk assets could rally, should these revisions not upset the US disinflation story.

We doubt the US initial clams will be a big market mover today and can see DXY staying bid in the 104.00 to 104.60 range.

USD/CHF retraces its recent gains on risk appetite, inches lower to near 0.8730

USD/CAD Price Analysis: Discovers temporary support near 1.3450

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