US Dollar DXY declines towards 104.20 after mixed S&P PMIs
Fed's steady dovish bets also added to the decline.
PCE, durable goods orders, Q2 GDP revisions will be the highlights on Thursday and Friday.
On Wednesday, the US Dollar as measured by the DXY index went on a dip towards 104.20, largely influenced by mixed S&P PMI figures and the markets continuing to bet on a dovish Federal Reserve's (Fed) outlook.
With signs of disinflation steadily emerging, market participants are growing confident of a potential rate cut in September, yet the Fed officials continue their cautious approach, remaining dependent on the data. As such, attention is turning to key upcoming data, namely core Personal Consumption Expenditures (PCE), and Q2 Gross Domestic Product (GDP) figures on Thursday and Friday.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.