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Forex Trading Weekly Outlook: Is The USD On A Launchpad?
U.S. Dollar Update: On Tuesday morning's trading, the U.S. dollar index hovered around 104.1 levels, just slightly above its levels before the inflation data was released a week ago. In January, the U.S. annual Consumer Price Index (CPI) exceeded expectations, with a 3.1% increase compared to the anticipated 2.9%. Additionally, core figures also surprised on the upside, reaching 3.9% versus the expected 3.7%. Consequently, traders revised their 2024 full-year expectations from 125 basis points to approximately 100 basis points of cuts. Despite the movement in rates and the broader increase in Treasury yields, the ... (full story)