Dollar Strength: Analyzing Final GDP and Powell Speech's Impact
Final GDP Figures and Powell's Speech: Key Influencers of Dollar Strength
The dollar is experiencing heightened attention ahead of the final GDP figures, expected at 3.0%, alongside unemployment claims set at 224K. Jerome Powell's upcoming discourse may yield critical insights on future monetary policy directions, impacting both the dollar and precious metals.
Dollar Index (DXY) Technical Analysis
- The Dollar Index (DXY) is stabilizing around $100.934, with a key pivot point at $100.832.
- A surge above $100.832 could target resistance at $101.042 and beyond.
- Support levels lie at $100.671 and $100.432 should the index descend below the pivot.
Gold Technical Forecast
Gold (XAU/USD) is trading at $2,661.28, maintaining above its pivotal point at $2,659.45. Immediate resistance is seen at $2,670.40, with substantial support at $2,652.41.
GBP & Euro Dynamics Amid U.S. Focus
The British pound and euro are steady as traders monitor U.S. data. The GBP/USD is flirting with levels around $1.33392, while the EUR/USD is trading at $1.11392.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.