USD Index: Bears appear in control above 106.00 ahead of Powell – by pabspiovano DollarIndex Currencies Majors
Another revision saw GDP expand 2.9% YoY in Q3.remains on the defensive above the 106.00 hurdle in the wake of the opening bell in Wall Street on Wednesday.The index surrenders part of the 3-day advance on the back of the improvement in the risk complex and ahead of the key speech by Chair Powell due later in the NA session.
While hawkish Fedspeak maintains the Fed’s pivot narrative in the freezer, upcoming results in US fundamentals would likely play a key role in determining the chances of a slower pace of the Fed’s normalization process in the short term.: Mortgage Applications, ADP Employment Change, GDP Growth Rate, Goods Trade Balance, Pending Home Sales, Fed Powell,
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