The US Dollar has a change of heart and turns red this Wednesday. A very light economic calendar is ahead for Wednesday. The US Dollar Index trades below 103.00 after a false break on Tuesday. The US Dollar is turning red now that the dust has fully settled over the US Consumer Price Index data that came in slightly higher than expected, casting doubts over the timing of interest-rate cuts by the Federal Reserve .
US Dollar Index Technical Analysis: DXY dead-cat bounce The US Dollar Index might be posting a third day in the green this week, but traders will not be applauding the move after seeing that the CPI print was rather unable to really move the needle for the DXY. With a firm rejection even ahead of the 55-day Simple Moving Average , the question now is what will fuel the US Dollar for a multiple-day rally seeing several economic indicators abate further.