- The US Dollar consolidates ahead of a very important week in geopolitics.
- Traders brace for headlines that could emerge from Riyadh on a possible breakthrough.
- The US Dollar Index (DXY) resides and looks for a direction in the mid-106 region.
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, consolidates last week’s losses and trades flat at around 106.80 at the time of writing on Monday. The United States (US) economy is no longer an outlier, with several data points and the blood-red January Retail Sales data released last week pointing to slower economic growth. All eyes this week will be on Riyadh, in Saudi Arabia, where US and Russian officials are set to meet ahead of a meeting between US President Donald Trump and Russian President Vladimir Putin.
The economic calendar is very calm…
