The US Dollar consolidates in a very narrow range.
The economic calendar picks up with US PPI and Fed speakers ahead.
The US Dollar Index hovers around 105.25, above 105.00.
The US Dollar (USD) is not making any big waves on Tuesday after a rather dull Monday. The only main takeaway were comments from Federal Reserve (Fed) Vice Chair Philip Jefferson, who said that rates need to stay higher for longer. All eyes will be on Fed Chairman Jerome Powell to hear if he supports that view and pushes back against any early initial rate cut forecasts.
On the economic front, a lot of data to dive into with the Producer Price Index (PPI) measures as the biggest element on the table. The monthly movements in the headline and the core will be the most market-moving elements as an increase in both indices would ripple through into a higher Consumer Price Index (CPI) in the coming months. Higher costs for producers often mean higher prices for the end-consumer.
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