- US Dollar is showing a mixed picture with Asian currencies gaining room against the Greenback.
- US Dollar Index torn between Asian upspark on Monday and downbeat remaining G7 currencies.
- US stock futures point to a soft opening on Monday with small losses at hand.
The US Dollar (USD) is showing a very mixed picture this Monday with two clearly defined regions explaining why the US Dollar Index (DXY) is going nowhere. The US Dollar is gaining against most G7 currencies, with the exception of Asian pairs such as the South-Korean Wong (KRW) and the Japanese Yen (JPY), which are gaining traction against the Greenback. The Asian currency rise comes after several headlines from the PBoC , South-Korea trade data and Japanese Machinery Orders.
On the macroeconomic data front, traders will be mulling the progress on the United States debt ceiling talks after a brief hiccup over the weekend, when further talks got cancelled by the Republicans, as they walked away from the negotiating table. Meanwhile, US President Joe Biden has been able to restore the situation and talks began again on Sunday. This week, several important US macroeconomic data will be released and could have big impact on the US Dollar, withPMI numbers on Tuesday and Durable Goods and the PCE Price Index, which is the Fed’s preferred inflation metric, on Friday, leading the way.
