• The US Dollar dips on Monday as selling pressure continues. 
• Market sentiment turns nervous on an eventful week in the US economic calendar. . 
• The US Dollar Index slides below 104.00 and could fall further on the back of data later this week. 

The US Dollar (USD) is inching lower on Monday, extending Friday’s declines. Two main drivers for the Greenback to keep in mind this Monday: First, the landslide victory for former US President Donald Trump over Nikki Haley’s home state South Carolina, which puts Trump very close to secure the required amount of delegates for a Presidential bid. Second, the vast amount of key economic data points that are set to be released throughout this week, with second reading of the US Gross Domestic Product on Wednesday and the Personal Consumption Expenditures (PCE) Price Index on Thursday as the main drivers that could tip the market in any direction. 

The week is off to a quiet start, with a very light calendar Still, the tone could get set already with the New Home Sales data. A further decline, together with the decline seen in Building Permits and Housing Starts last week, could confirm that the housing market is coming under pressure from this elevated interest-rate regime.