US markets return to normal activity following Monday’s holiday.
Housing data, Fedspeak next on tap in the US docket.
The greenback advances further and reaches new 3-day peaks around 102.60 when tracked by the USD Index (DXY) on turnaround Tuesday.
USD Index looks at data, Fed speakers
The index remains optimistic during the first half of the week, maintaining its upward trend for the third consecutive session. This persistent strength is attributed to the ongoing fluctuations in the risk market.
Despite the People's Bank of China (PBoC) reducing the 1-year medium-term lending facility (MLF) by 10 bps during Asian trading hours, the risk-associated market shows little response. Investors, instead, are closely monitoring the Federal Reserve's future actions and eagerly awaiting Chair J. Powell's semiannual testimonies on Wednesday and Thursday.
In terms of US data, the focus will be on Housing Starts and Building Permits, accompanied by speeches from St. Louis Fed member J. Bullard, who holds voting rights in 2025 and leans hawkish, and NY Fed member J. Williams, a permanent voter with centrist tendencies
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