USD Index retreats from recent peaks near 104.30 ahead of PCE – by pabspiovano DollarIndex Currencies Majors Inflation
Policy makers move closer to a deal in the debt ceiling., which measures the greenback vs. a basket of its main rival currencies, recedes from recent multi-week peaks near the 104.30 region.The index has so far traded on the defensive for the first time this week, coming under some selling pressure after hitting new multi-week tops around 104.30 on May 25.
In the meantime, investors’ attention will exclusively be on the release of April’s inflation figures measured by the PCE/Core PCE along with Personal Income/Spending, Durable Goods Orders, Trade Balance and the final Michigan Consumer Sentiment for the month of May.The index now faces some downside pressure after the rally seems to have met initial resistance around 104.30 so far this week.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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