American dollar gently at the beginning of the week, markets are waiting for tips in CPI numbers

DXY stops around 103.95 because market moods remain frail.
Traders Eying Wednesday CPI data in the USA for the fresh direction of the market.
Nasdaq moves by 3.3%, dragging wider lower actions.

The American dollar (USD) remains under pressure on Monday, and DXY floats around 103.95, tries to find adhesion after a pointed decline last week. Recent comments from Jerome Powell, chairman of the Federal Reserve (FED) on Friday, assured the markets that the central bank does not see the urgent need to adapt the policy at the moment, although economic uncertainty is growing. Meanwhile, Nasdaq is facing huge market losses, which is a 3.3%decrease, because investors remain cautious about the key data of the United States (USA) in the middle of the week.

Daily Digest Market Movers: Fed in Focus as Krosna CPI

Market participants are preparing to issue a consumer price indicator (CPI) on Wednesday, they are expected to provide key information on inflation trends.
The federal reserve begins the darkening period before the meeting on March 19, limiting the Central Bank’s comments for a week.
On Friday, the chairman of the FED, he repeated on Friday that the Fed remains patient and does not see the urgent need for action, preferring to wait for additional economic data before introducing any changes in politics.
American shares are in front of acute correction, with leading NASDAQ losses, a 3.3%decrease.
The CME Fedwatch tool indicates most of the expectations that the rates will remain at current levels in May, while in June expectations decreased.
Before the media periods of the Fed sentiments, the Fed sentiments indicated on the daily chart in the direction of neutral soil, which can also explain the decrease in USD.

DXY Technical perspectives: test support near 103.50

The American dollar index (DXY) stabilizes below 104.00, consolidating after a pointed decline last week. The 20-day and 100-day straight average busy (SMA) confirmed the bears near 107.00, strengthening the negative trend. The relative force indicator (RSI) remains near the Oversold territory, which can signal a miniature -term reflection. Meanwhile, the divergence of the movable medium convergence (MacD) remains bear, which suggests a further risk of drops, unless the buyers enter the support levels. If DXY does not recover 104.50, the next support is apparent near 103.30, which can determine whether there will be a deeper drop.