Dollar Feels Snug: A Quick Look on the Dollar Index
Taming the Volatility
Morning sessions saw the U.S. dollar index sit pretty steady, a calm after last week’s wobble sparked by Tuesday’s surprise job‑opening figures.
Job Openings Pump Up the Fever
- Job openings shot up to 8.756 million in February, just a hair over analysts’ expectation of 8.75 million.
- The number paints a picture of a labor market that’s still showing a pulse.
Manufacturing Jump‑Start & New Orders
- U.S. manufacturing expanded for the first time in 1.5 years – that’s a good thing we can shout about.
- New orders for manufactured goods bounced back stronger than expected, giving confidence that factories are gearing up.
What’s on the Horizon
- The day is still set to move upward, with the ISM Services PMI heading out later. Market consensus leans on a March reading of 52.7, just above February’s 52.6.
- Federal Reserve Chair Jerome Powell will drop a speech today – his words could stir the pot a bit.
- Powell’s recent hints point to a sluggish rate‑cut timetable. While many expect a neutral stance, most traders think he’ll stay cautious, weighing future cuts against current economic vibes. That could keep the dollar looking pretty muscular.
Bottom Line
With solid job numbers, a manufacturing upswing, and key indicators on the way, the dollar’s trajectory is looking robust as ever. Watch the PMI and Powell’s speech for a potential bump in the greenback’s ride today.
