• The US Dollar steadies on Monday, though still at elevated levels near last week’s high. 
• Tensions in the Middle East keep lingering while traders gear up for the Fed Minutes and US CPI release later this week. 
• The US Dollar Index trades above 102.00, with traders fretting over whether to send the DXY towards 103.00.

The US Dollar (USD) is steady to sideways on Monday, with the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, hovering around 102.50. While traders are bracing for the US Federal Reserve (Fed) Minutes and the US Consumer Price Index (CPI) release for September later this week,  no less than four Fed speakers are lined up to guide markets toward November’s rate decision on Monday. 

The economic calendar is light on Monday, with only the Consumer Credit Change for August on the docket in terms of numbers. Later this week, the US CPI on Thursday will be the main driver for the US Dollar. Markets are still assessing whether the US economy is in a soft landing, a Goldilocks scenario, or rather in a recession outlook.