The dollar has strengthened this morning in the wake of COVID worries growing in China. While China’s yuan slipped due to higher cases and tightening restrictions, investors have turned to the dollar for safe-haven buying.
Despite these new gains, the dollar index is on track for its worst monthly performance since July 2020.
On Wednesday, markets will see the latest data on durable goods orders. The data will provide an insight into the number of new orders placed with manufacturers for delivery of hard goods (which meant to last at least three years).
New orders rose 0.4% month-over-month in September, following an upwardly revised 0.2% gain in August, and beating market expectations for a 0.2% advance.
This week, the numbers are predicted to edge slightly lower to 0.3%.
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