The USD rally stalls with no major US data today, shifting focus to upcoming FOMC minutes and flash PMIs for inflation and growth signals.
The US Dollar Index (DXY) pulled back slightly as US Treasury yields declined, with no high-impact US economic data scheduled for today. The pause follows a recent rally, with traders now eyeing the Federal Open Market Committee (FOMC) minutes and US flash PMIs later this week for clues on inflation persistence and economic momentum.
Key support levels for the DXY are identified around 98.30–98.50, while resistance lies near 99.40 and 100.50–100.60. The index’s recent advance stalled at 99.30, with technical indicators suggesting mild bullish momentum but easing from overbought conditions.
Market participants will scrutinize the FOMC minutes for signs of policymakers’ concerns over inflation and the PMIs for evidence of economic resilience or softening under tighter financial conditions. A softer PMI or less hawkish Fed tone could ease recent USD strength.