The USD Index (DXY), which gauges the greenback vs. a bundle of its main rivals, alternates gains with losses around the 102.00 neighbourhood on turnaround Tuesday.
USD Index looks at data, inflation concerns
The index trades in a vacillating mood near the 102.00 area, always against the backdrop of the broader bearish trend in place since early March, which saw DXY deflate from the vicinity of 106.00 to the current area near 102.00.
In the meantime, inflation concerns appear to have re-emerged following Monday’s jump in crude oil prices. This, in turn, seems to have reignited speculation of a 25 bps rate hike at the Fed’s May event.
Later in the US calendar, Factory Orders for the month of February are due seconded by the IBD/TIPP Economic Optimism index and the speech by FOMC L. Cook (permanent voter, centrist).
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