US Dollar Slides to New Lows after Fed Cites CPI as Key to Hikes. Where to for USD?

The US Dollar is weaker today after Fed speakers opined a less hawkish stance that will depend on this week’s CPI and China looks toward stimulus measures. Where to for DXY (USD) Index?

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Dow and S&P 500 Breakout Collapses But Dollar Holds Onto Losses with Powell Ahead

At the open for trade this week, it seemed that the US indices would extend Friday’s rally to notch further technical breakouts; but conviction evaporated and we were left with troubling reversals. Meanwhile, the Dollar’s extended losses are proving stickier but Fed’s Powell could change that picture.

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USDCAD Breaks Lower as Rate Forecasts Shift Out of Fed’s Favor

The US Dollar has taken a hit over the last 48 hours of active trading. For USDCAD, the technical break looks productive; but it is the fundamental backdrop that will fulfill the potential for momentum. While commodity correlations may present some feeder, it is relative rate speculation that is proving more active.

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S&P 500, Nasdaq Extend Gains While Inflation Expectations Ease

US equity futures have extended gains while US inflation expectations declined. With S&P 500 and Nasdaq futures clearing resistance, USD remains strained ahead of US CPI.

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