After enjoying its best start to a calendar year since 1997, the US Dollar index was resisted around its 21-day simple moving average (SMA) and the top of a bear channel. This week's major events may determine whether the greenback's 2024 rebound can carry on.

After suffering its worst month this year, USD has slightly rebounded above 103 round number, potentially aiming at 200-SMA resistance level.

Announcements out of Federal Reserve, US Treasury, and Bank of England could send volatility picking up across global markets.

The Canadian dollar, a.k.a. "loonie", has struggled recently and may well continue to do so if the central bank meeting today doesn’t keep the mildly hawkish narrative going.