US Dollar Index Slips as Traders Await FOMC and NFP - Forex News by FX Leaders

US Dollar Index Slips as Traders Await FOMC and NFP

Posted Wednesday, May 1, 2019 by
Arslan Butt • 1 min read

Ahead of the FOMC statement and interest rate decision by the Federal Reserve, the US dollar index has slipped below a 23-month high. Traders are waiting for the FOMC today and NFP later this week before entering into bullish positions in [[DXY]].

Japan is off for a week-long holiday, while European banks remain closed in observance of Labour Day today. As a result, volatility in the markets is on the lower side.

Any significant change in this index can only be expected during the US session later today. For now, the DXY is trading at 97.44.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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