US DOLLAR TRADES FLAT AS FED STARTS BLACKOUT PERIOD

• The US Dollar steadies at the opening on Monday. 
• All eyes this week will be on the US CPI numbers ahead of the Fed interest-rate decision next week.
• The US Dollar Index trades just below 103.00, with technical risk of more downside to come. 

The US Dollar (USD) is starting the week at a slow pace, not really making any waves on Monday. However, the Greenback is set for a very firm data-driven regime this week as there will be no US Federal Reserve (Fed) officials speaking. This is because the Fed’s blackout period has started ahead of the rate decision and Chairman Jerome Powell’s speech next week. 

Looking ahead on the economic calendar front, focal points this week are Tuesday, Thursday and Friday.. On the top of the board there is the US Consumer Price Index (CPI), to be released on Tuesday. Any decline in inflation will be enough for markets to bring back forward those heavily anticipated rate cuts from the Fed. Add to that the US Producer Price Index (PPI) numbers and Retail Sales for Thursday, and the Greenback could be trading in a whole other ballpark by Friday.