The US Dollar turned flat on Tuesday after initially facing pressure, as US equities moved higher and volatility surged in global markets following China’s return from the Golden Week holiday. Despite the Hang Seng Index dropping 9%, the US Dollar Index (DXY) stayed above 102.00, signaling mixed sentiment.
While the economic calendar was light, data showed a slight improvement in the US Goods Trade Balance, and Federal Reserve comments could still influence market movements. European markets dipped, but US equities looked poised to open in positive territory. Investors are also weighing the chances of a Federal Reserve rate cut in November, with the likelihood of a 25 basis point cut at 88.7%. The DXY faces key resistance at 103.00, with downside support at 101.99.
https://www.fxstreet.com/news/us-dollar-extends-correction-with-china-reopening-202410081030


