US Dollar steady with US markets closed despite geopolitical headlines

NEW YORK (February 17) The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is trading around 106.80 for the bigger part of this Monday while traders mull any possible outcomes from this week's meeting in Saudi Arabia on Ukraine. The United States (US) economy is no longer an outlier, with several data points and the blood-red January Retail Sales data released last week pointing to slower economic growth. All eyes this week will be on Riyadh, in Saudi Arabia, where US and Russian officials are set to meet ahead of a meeting between US President Donald Trump and Russian President Vladimir Putin. 

The economic calendar is very calm this week in the run-up to the S&P Purchasing Managers Index (PMI) data on Friday. Although the US bond market is closed due to the President’s Day bank holiday, the Federal Reserve (Fed) has three policymakers lined up to speak on Monday. 

Daily digest market movers: US officials headlines 

• US bond markets are closed on Monday due to the President’s Day bank holidays.
• Traders will need to be vigilant for any headlines coming out of Riyadh, where US and Russian officials are meeting in the runup to the meeting between US President Donald Trump and Russian President Vladimir Putin to agree on a deal for Ukraine. 
• At 14:30 GMT, Federal Reserve Bank of Philadelphia Patrick Harker delivers a speech on the economic outlook at the Central Banking Series Conference at the University of the Bahamas in Nassau.
• At 15:20 GMT, Fed Governor Michelle W. Bowman delivers brief remarks on the economy and bank regulation at the American Bankers Association (ABA) Conference for Community Bankers in Phoenix, Arizona.
• Closing off this Monday, at 23:00 GMT, Fed Governor Christopher J. Waller speaks on the economic outlook at the UNSW Macroeconomic Workshop in Sydney, Australia.
• Equities start off this week with some small and cautious gains. US futures are trading and are in the green as well. 
• The CME FedWatch tool shows a 46.7% chance that interest rates will remain unchanged at current levels in June. 
• The US 10-year yield is trading around 4.48%, and will remain closed for trading this Monday

FXStreet