US Dollar Index steadies near 97.00 amid US, China holiday trading pause
The post US Dollar Index steadies near 97.00 amid US, China holiday trading pause appeared on BitcoinEthereumNews.com.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, has recovered small losses from the previous session and is trading near 97.00 during the Asian hours on Monday. Trading volumes are likely to remain muted, with United States (US) markets closed for the Presidents’ Day holiday, while Mainland China is also shut for the week-long Lunar New Year break. The US Dollar (USD) could face challenges as softer January Consumer Price Index (CPI) data reinforced expectations that the Federal Reserve (Fed) may cut rates later this year. The CME FedWatch tool suggests that investors now assign nearly a 90% probability to the Fed holding rates steady at its March meeting, up from 81% a week earlier. Markets are pricing in roughly two 25-basis-point cuts by the end of the year, with the first move seen in June at around a 52% probability. US CPI rose 2.4% year-over-year (YoY) in January, slowing from 2.7% in December and coming in below the 2.5% forecast. On a monthly basis, consumer inflation moderated to 0.2%, down from 0.3% previously and under market expectations of 0.3%. Moreover, stabilizing the US labor market supports the market’s expectations of the Fed keeping rates unchanged in March before delivering two 25-basis-point cuts by year-end. US Nonfarm Payrolls increased by the most in over a year, while the Unemployment Rate unexpectedly declined, pointing to a stabilizing labor market. Chicago Fed President Austan Goolsbee said in a Yahoo Finance interview Friday that the latest CPI report contained both encouraging elements and areas of concern, particularly persistently high services inflation. Goolsbee added that strong January employment data likely signals stability, noting the labor market remains steady with only modest cooling. He also stated that interest rates still have room to decline further.…
Filed under: News - @ February 16, 2026 3:27 am