US Dollar Index steadies at 98.80 as Treasury buybacks weigh, with key inflation data and Fed events looming next week.
The US Dollar Index (DXY) closed the week near 98.80, its lowest level since May, as US Treasury buybacks of longer-dated debt pushed yields lower. The move overshadowed strong flash PMI data showing accelerating US economic activity.
Gold and the Australian Dollar rallied to multi-month highs, while crude oil held near four-week peaks amid Middle East tensions. The Dollar showed mixed performance against major currencies, strongest against the Swiss Franc.
Markets brace for Wednesday’s July PCE Price Index, the Fed’s preferred inflation gauge, followed by Fed Chair Kevin Warsh’s Jackson Hole debut and Nonfarm Payrolls revisions on Friday. The Kansas City Fed symposium focuses on financial innovation’s policy implications.