4 Global Market Updates- 9 August, 2022

 

In this article, we have covered the highlights of global market news about the US Dollar Index, XAU/USD, EUR/USD and GBP/USD.
The US Dollar Index is now trading in the low 106.00s.

The US Dollar Index (DXY), which compares the value of the dollar to a number of its key competitors, has been fluctuating around the 106.30 area so far on Tuesday.

With the upside obviously restricted in the neighborhood of the 107.00 mark and the lower bound clearly constrained at the 105.00 zone, the index stays on the defensive in the first part of the week, always within the larger consolidation theme.

While market speculation over a probable 75 basis point rate rise at the Fed’s September meeting appears to have subsided among investors in recent hours, the dollar trades cautiously ahead of the release of the crucial US inflation numbers for the month of July coming on Wednesday.

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