MARKET OUTLOOK - The Dollar Index Expected to Trade Between 106-107

Forex - ING stated that the dollar will continue to trade at a higher range following the gains it made after the U.S. presidential elections. ING analyst Chris Turner emphasized that the market is moving away from pricing in a rate cut by the Fed in December as it prepares for a potential second term for Donald Trump. Turner noted that developments in overseas economies are far from encouraging and indicated that the likelihood of U.S. data, including the unemployment claims report to be released at 1630 UTC, moving the markets is low. He also mentioned that the DXY dollar index should continue to trade in the new range of 106-107. DXY is currently stable at 106.640.