{"id":16237,"date":"2025-01-06T08:40:43","date_gmt":"2025-01-06T08:40:43","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=16237"},"modified":"2025-01-06T08:40:43","modified_gmt":"2025-01-06T08:40:43","slug":"dollar-holds-fast-awaiting-key-fed-data","status":"publish","type":"post","link":"https:\/\/www.global-vtrader.com\/en\/analysis\/dollar-holds-fast-awaiting-key-fed-data\/","title":{"rendered":"Dollar Holds Fast Awaiting Key Fed Data"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"559\" src=\"https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/01\/download-2-1-1024x559.png\" alt=\"\" class=\"wp-image-16621\" srcset=\"https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/01\/download-2-1-1024x559.png 1024w, https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/01\/download-2-1-300x164.png 300w, https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/01\/download-2-1-768x419.png 768w, https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/01\/download-2-1-500x273.png 500w, https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/01\/download-2-1-400x218.png 400w, https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/01\/download-2-1-350x191.png 350w, https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/01\/download-2-1-200x109.png 200w, https:\/\/www.global-vtrader.com\/en\/wp-content\/uploads\/sites\/4\/2025\/01\/download-2-1.png 1408w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Key Points<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The dollar index eased to <strong>108.89<\/strong> but remains close to a two-year peak.<\/li>\n\n\n\n<li>Federal Reserve rate expectations and global uncertainty continue to bolster the dollar\u2019s safe-haven appeal.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\" \/>\n\n\n\n<p>The U.S. dollar slid <strong>0.24%<\/strong> to close at <strong>108.701<\/strong> after hitting a two-year high last week. Traders are focused on upcoming U.S. economic data, especially <strong>December&#8217;s nonfarm payrolls report<\/strong>, for insights into the Federal Reserve\u2019s monetary policy outlook.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">US Nov payrolls show job growth accelerated after October hiccup <a href=\"https:\/\/t.co\/AjKL8GdcFa\">https:\/\/t.co\/AjKL8GdcFa<\/a> <a href=\"https:\/\/t.co\/xf1N4p3l0t\">pic.twitter.com\/xf1N4p3l0t<\/a><\/p>&mdash; Reuters (@Reuters) <a href=\"https:\/\/twitter.com\/Reuters\/status\/1865094101504258155?ref_src=twsrc%5Etfw\">December 6, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Market participants should look towards upcoming speeches from Fed policymakers to further gauge their stances on inflation control.<\/p>\n\n\n\n<p>Meanwhile, safe-haven demand for the dollar remains robust on the back of President-elect Donald Trump&#8217;s upcoming policies. Talks on the potential import tariffs, tax reforms, and immigration restrictions will likely sway the dollar&#8217;s movements moving forward.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Technical Analysis<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2025\/01\/WhatsApp-Image-2025-01-06-at-14.34.28-1-1024x446.jpeg\" alt=\"\" class=\"wp-image-16242\" style=\"width:1450px;height:auto\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><em>Picture: USDX consolidates near support as momentum softens, as seen on the <a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\" title=\"\">VT Markets app<\/a>.<\/em><\/p>\n\n\n\n<p>With traders eyeing upcoming Centra Bank discussions on rate cuts and jobs data, the dollar flattened to a close at <strong>108.701<\/strong>, consolidating after failing to sustain gains above <strong>108.88<\/strong>. The range-bound action still show lingering effects from the holiday-thinned volumes, which only serve to amplify small moves.<\/p>\n\n\n\n<p>A break above <strong>109.00 <\/strong>could signal further gains, while a slip below 108.65 may open the door for more bearish pressure.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Fed Outlooks and Global Shake-Ups<\/h2>\n\n\n\n<p>The dollar has drawn sustained support from market anticipation that the <a href=\"https:\/\/t.co\/KywrZLFOyg\">Fed <\/a>will hold off on aggressive rate cuts this year. Fed policymakers are expected to reiterate their commitment to taming inflation, lending further buoyancy to the greenback.<\/p>\n\n\n\n<p>The USDX holds its ground as a safe-haven asset despite heightening market uncertainties. With speculation about <a href=\"https:\/\/t.co\/00THF7MC1l\">Canadian Prime Minister Justin Trudeau\u2019s<\/a> resignation and retreat from the <a href=\"https:\/\/t.co\/CFYXDDQk5C\">People\u2019s Bank of China (PBOC)<\/a>, the dollar&#8217;s appeal is expected to grow from here.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\">Create your live VT Markets account<\/a>&nbsp;and&nbsp;<a href=\"https:\/\/myaccount.vtmarkets.com\/login\">start trading<\/a>&nbsp;now.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dollar index eases to 108.89, near a 2-year high, as markets await U.S. jobs data and Fed signals amid global uncertainty. &#8211; vtmarkets.com <\/p>\n","protected":false},"author":2,"featured_media":16621,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[27],"tags":[28],"class_list":["post-16237","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","tag-dollar"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts\/16237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/comments?post=16237"}],"version-history":[{"count":0,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts\/16237\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/media\/16621"}],"wp:attachment":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/media?parent=16237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/categories?post=16237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/tags?post=16237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}