This article focuses on the fundamental and technical outlook for the US dollar across three key pairs: EUR/USD, USD/JPY and GBP/USD. In the piece, we also explore sentiment and price action dynamics ahead of major US economic releases in the week ahead.
Wondering about the U.S. dollar’s technical and fundamental outlook? Gain clarity with our latest forecast. Download a free copy now!In terms of core PCE, this metric is seen increasing 0.3% on a seasonally adjusted basis, bringing the 12-month reading to 2.6% from 2.8% previously, a small but positive step in the right direction and a sign that underlying price pressures remain extremely sticky.
Conversely, should sellers reassert themselves and take charge of the market, technical support becomes apparent at 1.0600. Bulls must vigorously defend this technical floor; any failure to do so could exacerbate bearish momentum in the near term, paving the way for a deeper decline towards the 2023 lows near 1.0450.surged to multi-decade highs around 154.80 before retracing slightly from those lofty levels as the weekend approached.
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