Another positive week finally saw the Greenback surpass the key 106.00 barrier for the first time since early May, according to the US Dollar Index (DXY).
US Dollar Index extended its uptrend further. Market participants still see the Fed ’s first rate cut in September. NFP and Powell should dictate the price action next week. A visit to the 2024 top looms closer Another positive week finally saw the Greenback surpass the key 106.00 barrier for the first time since early May, according to the US Dollar Index .
Powell will speak at the ECB Forum early in the week, followed by the ADP report and results from key Manufacturing and Services PMIs by the ISM. In addition, the FOMC will publish its Minutes of the June meeting and June’s Nonfarm Payrolls emerge as the salient event towards the end of the week. Techs on the US Dollar Index The DXY maintained its firm momentum after bottoming out near 104.00 in early June, managing to finally trespass the key 106.00 hurdle.
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