- Dollar index trades around the 92.00 key support
- FOMC minutes eyed today.
- US economic docket filled with events.
The US dollar selling continues as the risk-on mood gets support from the potential coronavirus vaccine and the formal transition to the Biden-led White House.
The dollar index, reflecting the value of the greenback against a basket of currencies, fell to the area surrounding the 92.00 mark today. The current DXY levels are near the 8-month support line as positive news surrounding the pandemic, and US elections helped the risk-bulls.
Traders eye the Initial Claims, inflation figures tracked by the PCE and the November’s final U-Mich index along with the FOMC minutes in today’s session. The economic data will keep the centre stage until the Fed minutes release later in the day, ahead of Thursday’s Thanksgiving Day holiday.
Other data releases slated for today are MBA’s Mortgage Applications, Durable Goods Orders, third-quarter GDP Growth Rate, advanced Trade Balance results, New Home Sales and Personal Income/Spending.