Dollar Hits New Highs As Markets Eye Fed, Jobs Data Amid Geopolitical Worries
-
The US Dollar Index (DXY) continues rising, printing a fresh high since December 13th on flight to safety amid geopolitical tensions and upcoming economic data.
-
Markets brace for major events this week including the Fed decision on Wednesday and US jobs data on Friday.
-
DXY breaks above key 55-day and 200-day moving averages, opening the door for further gains towards 104.41 and 105.88.
-
Equity markets trade sideways despite earlier Asia gains as investors turn cautious ahead of big tech earnings and Fed meeting.
-
Dallas Fed manufacturing index contracts further in January, underscoring worries about a potential US recession.