XE Market Analysis: North America – Jul 19, 2019

The Dollar settled at firmer levels after the New York walked back the dovish remarks of Williams yesterday. The narrow trade-weighted USD index (DXY) was showing a near 0.3% gain heading into the New York interbank open, at 97.02, up from the 16-day low see late yesterday at 96.67. At the close yesterday, Fed funds futures were still discounting about a 40% chance for the Fed to cut by 50 bp, though this was down from near 70% odds being implied in the wake of Williams’ speech.

Source: XE news feed
XE Market Analysis: North America – Jul 19, 2019