US Dollar gains momentum on strong housing data, eyes on FOMC

US Housing Starts and Building Permits from February beat expectations. All eyes are now on the Fed’s updated Dot Plot on Wednesday, an interest rate pause is already priced in. US Treasuries are edging downward but remain at multi-week highs. The US Dollar Index is fluctuating around 104.00, registering gains ahead of the impending Federal Open Market Committee meeting on Wednesday. This marks the highest level since March 1.

Constant rising prices for the same goods means inflation, constant lowered prices for the same goods means deflation. It is the task of the central bank to keep the demand in line by tweaking its policy rate. For the biggest central banks like the US Federal Reserve , the European Central Bank or the Bank of England , the mandate is to keep inflation close to 2%.

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