Daily Market Pulse

The dollar has risen as a result of the Fed’s aggressive rate hike bets.

At the start of the week, the US dollar is gaining momentum against its major peers, boosted by rising US Treasury bond yields. Before the unfavorable shift in risk sentiment boosted the US currency, the dollar index closed 0.04 percent higher the previous Friday. Traders also upped their bets on the Federal Reserve raising interest rates faster than expected. After central bank officials showed a willingness to tighten more firmly to manage inflation, Wall Street firms ranging from Goldman Sachs to Bank of America are anticipating half-point rate hikes in upcoming Fed meetings this year. In other developments, early Monday, U.S. stock index futures were down 0.4 percent to 0.5 percent, confirming the bleak market environment. The benchmark 10-year yield also surpassed 2.5 percent, indicating that the global bond market selloff hasn't subsided as investors prepare for a policy tightening cycle. Investors in the United States are waiting for the monthly jobs report, PCE inflation, and consumer confidence data later this week to evaluate the monetary policy stance.

Monday, March 28th, 2022 - Durable Goods Orders (Feb) Nondefense Capital Goods Orders excluding Aircraft (Feb)
Tuesday, March 29th, 2022 - Annualized Gross Domestic Product (Q4) Housing Price Index (MoM) S&P/Case-Shiller Home Price Indices (YoY)(Jan) (Jan)
Wednesday, March 30th, 2022 - Personal Consumption Expenditures (QoQ)(Q4) Core Personal Consumption Expenditures (QoQ) (Q4)
Wednesday, March 31st, 2022 - Core Personal Consumption Expenditures - Price Index (YoY)(Feb) Personal Income (MoM)(Feb) Personal Spending(Feb) Purchasing Managers' Index of Chicago (Mar)
Friday, April 1, 2022 - Non-farm payrolls (March), ISM Manufacturing PMI (March), Unemployment rate (March), and Labor Force Participation (March) (Mar)

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