DXY Weakens Slightly in Asia
The US Dollar Index stood at 98.524, down 0.07 percent in the Asian session on Tuesday. Movement remained subdued as regional stocks rose and sentiment improved slightly, prompting some market participants to reduce their dollar hedges.
Pressure on the dollar was aided by softer US bond yields after signs of an oil surplus eased inflation concerns. With several official data delays, the market is focusing heavily on earnings reports and alternative indicators while awaiting the release of US consumer inflation on Friday.
Globally, hopes for progress in trade talks between the United States and China are supporting risk appetite. However, the threat of new tariffs if no agreement is reached is still holding back the dollar's decline.
Going forward, the DXY's direction will be determined by inflation data and central bank policy signals due at the end of October. Technically, the 98 area is the initial support, while the 99 to 99.5 area represents the closest challenge. Movement outside this range has the potential to trigger renewed volatility.
Key points:
- DXY at 98.524, down 0.07 percent
- Softer yields and improving risk sentiment
- Markets awaiting US inflation and trade news
Watching range: 98.5 to 99.5. (asd)
Source: Newsmaker.id
