- DXY advances and closes in on 93.00 .
- Stalemate in stimulus negotiations talks boost USD.
- US Initial Claims rose below the 800K mark for the first time
The US Dollar Index (DXY), measuring the USD versus a basket of major currencies maintains the upbeat mood and trades flirts with93.00
US Dollar Index regains traction near 93.00
After testing fresh multi-week low around-92.50s on Wednesday, the DXY has found its feet again and is now homing in on 93.00.
Fiscal stimulus talks are deadlocked boosting the US Dollar as risk aversion is likely to return to the markets. Caution dominates ahead of the final presidential debate between President Trump and Democrat candidate Joe Biden.
The US labour market showed Initial Claims rose by 787K WoW during last week. This was the first reading sub-800K since late March.
September’s Existing Home Sales and a speech by Richmond Fed Thomas Barkin (2021 voter, centrist) are also expected.