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Most Recent Article: US Dollar edges higher amid Middle East tensions, dovish Fed may limit the upside The US Dollar mixed into the US trading session. Markets are not fleeing to safe havens on the back of Red Sea geopolitical tensions. The US Dollar Index is torn between risk-on mood and Fed speakers pushing back on rate cut bets. The US Dollar (USD) trades sideways on Wednesday, a mixed trading day on the quote board. Markets are ignoring the geopolitical risk and inflationary pressures that might come on the back of the rerouting of vessels forced by recent attacks in the Red Sea. Meanwhile, in the commodity space, Oil is soaring and OPEC+ is having a field day. The US Dollar Index is stuck just above 102.00, with the potential to move more sharply later this week  on key US data. On the economic front, there are not many top-tier numbers in the run-up to Thursday’s US Gross Domestic Product (GDP) data and Friday’s Personal Consumption Expenditures (PCE) Price Index. US Existing Home Sales surprised to the upside, and contradicts the earlier decline in Building Permits on the fact that current rate levels are further deteriorating the housing market.   Daily digest Market Movers: No fireworks until US GDP Several news agencies are reporting that Chinese President Xi Jinping said to US President Joe Biden that China will add Taiwan, though no date is set for the annexation.  Colorado state has banned former US President Donald Trump from being on voting ballots in the upcoming Presidential elections. The State’s top court ruled that Trump was guilty of his role in the January 6 breach of Congress, which disqualifies him from running. This sentence can be upheld or reversed by the US Supreme Court. At 12:00 GMT, the Mortgage Bankers Association (MBA) was…

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Filed under: News - @ December 20, 2023 11:12 pm