The USD weakened against the July yield of the US Producer Price Index (PPI) and NY Fed Chairman W. Dudley’s comments on the less tightening style of yesterday.
Dudley, inflation, believes that in the medium-term gains pace, albeit within the Fed this year also eliminated the possibility of achieving the inflation target. Dudley, the tight labor market with the weak US dollar will start to expect that upward pressure on inflation soon.
In the data front, the July Consumer Price Index (CPI) expected inflation figures, Danske Bank analysts, “the Fed strict employment at the end of the market believe that raising inflation and sharply declined in the last period of the US dollar, these two shows take a long time for the correct operation of the CPI figures ” says.
In addition, the speeches of Dallas Fed President Robert Kaplan and Minneapolis Fed President Neel Kashkari from the FOMC will be closely watched.
The US Dollar Index is currently trading at 93.38 with a gain of 0.09%.
Significant technical levels for DXY
93.77 (08.09 August peak), 94.11 (26 July peak) and 95.10 (23.6% Fibo 2017 decline) levels of resistance, 93.14 (10-day SMA), 93.12 (August 8, bottom), and 92.39 (2 August bottom 2017) levels It can create support for DXY.