December 9, 2022

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Dollar Index sits at the crossroads ahead of PCE data

1 min read

Dollar

The US dollar is sat at the cross roads sat above the 91.40 key support level, waiting for the US PCE data out later.  

Keep your eye on this simple trend line for the USD near term direction. Following the Fed’s latest Hawkish shift you would expect the USD to keep tracking higher. Any strong upside surprise from the US PCE data later will be supportive for the USD with the 91.50 near term support. Inflation fears high on the Fed’s agenda as slight wobbles have entered over the inflation is ‘transitory’ narrative. 

Big picture stuff, but the key trend line for the daily chart

Dollar

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