- The USD Index extended its weekly decline below 104.00. - Investors appear to have fully priced in a rate cut in June. - Markets are expected to refocus on the PCE data. - A bearish outlook awaits below the 200-day SMA. The persistent selling interest put the Greenback under extra pressure throughout the week, forcing the US Dollar to accelerate its losses and break below the key support at 104.00.
These officials indicated that demand might be stronger than previously evaluated, and several also acknowledged potential risks stemming from looser financial conditions. In the macro scenario, bets around the timing of the potential first interest rate cut by the Fed continued to dictate the sentiment among market participants.
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