US Dollar Index comes to a standstill on Monday with US markets closed for public holiday
The post US Dollar Index comes to a standstill on Monday with US markets closed for public holiday appeared on BitcoinEthereumNews.com. The early Asian decline gets fully pared back with the DXY trading flat near the European close. The brief euphoria quickly fades on US tariffs delaying on EU goods. The US Dollar Index is back to flat at $99.10. The US Dollar Index (DXY), which tracks the performance of the Greenback’s value against six major currencies, is trading very close where it opened, near 99.09 at the European closing bell. The dip in the Greenback came after the United States (US) President Donald Trump agreed to extend the deadline of the 50% tariffs on the EU to July 9, instead of June 1, when they were supposed to become effective. Overall, a sigh of relief ripples through markets with risk assets emerging as the biggest winners on these developments at the start of the week. Several traders and analysts are still pointing to persistent issues that remain sticky. The tax bill from President Trump is on its way to be voted on in the Senate, and will add extra pressure on the US debt. With a further ballooning deficit, yields could still rise more, with traders demanding a higher premium for them to buy US debt. Daily digest market movers: Chunky week ahead Speculative traders remained bearish on the US Dollar but trimmed their positioning to $12.4 billion in the week ending May 20 from $16.5 billion in the week prior, according to CFTC data reported Friday, Reuters reports. Trump announced he would extend to July 9 the deadline for the European Union (EU) to face 50% tariffs. The decision came after a call between Trump and European Commission President Ursula von der Leyen on Sunday, and should help the EU negotiate a trade deal with the Trump administration, Bloomberg reports. The US economic calendar is almost empty on Monday…
The post US Dollar Index comes to a standstill on Monday with US markets closed for public holiday appeared on BitcoinEthereumNews.com.
The early Asian decline gets fully pared back with the DXY trading flat near the European close. The brief euphoria quickly fades on US tariffs delaying on EU goods. The US Dollar Index is back to flat at $99.10. The US Dollar Index (DXY), which tracks the performance of the Greenback’s value against six major currencies, is trading very close where it opened, near 99.09 at the European closing bell. The dip in the Greenback came after the United States (US) President Donald Trump agreed to extend the deadline of the 50% tariffs on the EU to July 9, instead of June 1, when they were supposed to become effective. Overall, a sigh of relief ripples through markets with risk assets emerging as the biggest winners on these developments at the start of the week. Several traders and analysts are still pointing to persistent issues that remain sticky. The tax bill from President Trump is on its way to be voted on in the Senate, and will add extra pressure on the US debt. With a further ballooning deficit, yields could still rise more, with traders demanding a higher premium for them to buy US debt. Daily digest market movers: Chunky week ahead Speculative traders remained bearish on the US Dollar but trimmed their positioning to $12.4 billion in the week ending May 20 from $16.5 billion in the week prior, according to CFTC data reported Friday, Reuters reports. Trump announced he would extend to July 9 the deadline for the European Union (EU) to face 50% tariffs. The decision came after a call between Trump and European Commission President Ursula von der Leyen on Sunday, and should help the EU negotiate a trade deal with the Trump administration, Bloomberg reports. The US economic calendar is almost empty on Monday…
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