The US Dollar has recovered some ground on the past week, supported by the stable CPI index. However, the market still lacks a strong driver to buy the greenback. FOMC meeting minutes showed the members still believe the economy remains too weak for a rate hike in June. Market expectations switched to the October-December range.
On the new week, the market will be focused on the Q1 GDP second estimate on Friday. Experts surveyed by Bloomberg expect the reading to be reviewed to -0.9%. If it happens, bearish pressure on the US Dollar will resume. You should also pay attention to the core durable goods orders, consumer sentiment and Chicago PMI.
On the new week, the market will be focused on the Q1 GDP second estimate on Friday. Experts surveyed by Bloomberg expect the reading to be reviewed to -0.9%. If it happens, bearish pressure on the US Dollar will resume. You should also pay attention to the core durable goods orders, consumer sentiment and Chicago PMI.
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