Majors and Currencies Trends: US Dollar's Weekly Recovery Before PCE Inflation
Friday, 30 August 2024, 00:26
Majors and Currencies: A Closer Look at the US Dollar's Recovery
The US Dollar (USD) Index has entered a consolidation phase below the crucial level of 101.50 on Friday, following two consecutive days of gains. This trend signals increasing interest in economic indicators that could impact currency valuation.
Market Analysis of Economic Indicators
- US Dollar Consolidation: A slight dip under 101.50 suggests traders await fresh data.
- PCE Inflation Data: Market focus shifts to upcoming PCE inflation data for directional cues.
- Upcoming economic indicators may affect macroeconomic forecasts.
As analysts scrutinize upcoming reports, stay tuned for updates on the impact of macroeconomic shifts on major currencies.
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.