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The US Dollar Index recovers earlier losses, stabilizing around 106.50. Euro pares gains after CDU leads German elections, easing political uncertainty. Markets focus on upcoming US GDP and PCE data later this week. US President Donald Trump set to deliver a speech amid growing trade tensions. The US Dollar Index (DXY), which measures the US Dollar’s (USD) performance against a basket of six major currencies, recovers on Monday after an initial downturn, stabilizing around 106.50. Early losses triggered by upbeat German election results faded as the Christian Democratic Union (CDU) secured a leading position, calming market fears. Daily digest market movers: US Dollar steadies amid geopolitical and economic developments US Dollar Index recovers from Asian losses as German election results ease political concerns. Christian Democratic Union (CDU) leads the German elections, dampening Euro rally amid reduced political uncertainty. Investors await key US data releases, including Q4 2024 Gross Domestic Product (GDP) on Thursday. January Personal Consumption Expenditures (PCE) data set for release on Friday, potentially influencing the inflation outlook. Chicago Fed National Activity Index for January due later on Monday, offering insight into economic activity trends. US President Donald Trump is expected to speak later today, potentially addressing trade policy and tariffs. Tariffs set to take effect over the weekend could weigh on global trade sentiment. Personal income and spending data are expected alongside PCE figures for January. Q4 GDP figures are anticipated to confirm steady economic growth, supporting a positive outlook for 2025. DXY technical outlook: Bullish momentum remains fragile The US Dollar Index is attempting to stabilize around 106.50, with efforts to reclaim the 100-day Simple Moving Average (SMA) at 106.60 underway. Despite a mild rebound, technical indicators remain weak. The Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) suggest a continued bearish sentiment, though…

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Filed under: News - @ February 24, 2025 7:23 pm