- November 16, 2022
- Posted by: Stratford Team
- Category: Economy
- US Dollar Index picks up bids to defend the latest recovery from the lowest levels since August.
- Russian missile struck a NATO member Poland and escalated war fears.
- Softer US data, risk-on mood previous favored DXY bears.
- Downbeat prints of US Retail Sales for October could weigh on prices amid talks of Fed’s pivot.
US Dollar Index (DXY) holds onto the late Tuesday’s rebound near 106.50, picking up bids from the intraday low, amid a risk-off mood during Wednesday’s Asian session. That said, headlines surrounding Russia and the market’s cautious sentiment ahead of the US Retail Sales for October appear to push back the bears around a three-month low.
Russia’s missiles struck Poland, a North Atlantic Treaty Organization (NATO) nation, and triggered fresh fears of war between Moscow and the West. Following that hit, global leaders criticized Moscow’s attempt and the NATO ambassadors called for an emergency meeting…