US macro outperformance narrative is set to continue, backed by reopening, a strong vaccination drive and stimulus payments. In the view of economists at Westpac, the 94.50 level is an achievable three-month target for the US Dollar Index. US Dollar Index is lower on the week despite the huge rise in US NFP in March “The USD and US yields have priced in the initial stages of the reopening and stimulus fuelled rebound – the marquee payrolls and ISM reports for March topped even the most bullish forecasts (net of revisions), yet yields and the DXY are net steady since mid-March. But the rebound is only just hitting its stride and yet more dramatic upside surprises across a sweep of key data are likely in coming months.” “Fed messaging continues to underscore that there will be no hasty retreat from accommodative policy. With US employment at 144M vs a pre-covid full employment trend closer to 155M, they will be understandably patient for many months to come. But if payrolls are printing around 1M+ for the next few months Fed officials might be emboldened to lay out their tapering plans in Q3.” “As long as 91.50 holds, DXY’s uptrend should resume, an eventual return to the 2020Q3 highs in the 94.50 zone an achievable target.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD keeps the positive tone near 1.1880 ahead of ECB FX Street 2 years US macro outperformance narrative is set to continue, backed by reopening, a strong vaccination drive and stimulus payments. In the view of economists at Westpac, the 94.50 level is an achievable three-month target for the US Dollar Index. US Dollar Index is lower on the week despite the huge rise in US NFP in March "The USD and US yields have priced in the initial stages of the reopening and stimulus fuelled rebound - the marquee payrolls and ISM reports for March topped even the most bullish forecasts (net of revisions), yet yields and the DXY are net steady since… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.