- US Dollar maintains momentum ahead of Fed decision and labor market update.
- US JOLTs and CB Consumer Confidence figures exceed expectations.
- Fed is expected to stay data-dependent and keep possibilities open for a September cut.
The US Dollar, measured by the DXY index, continues its upward trend. Despite uncertainties hanging in the air over the Federal Reserve’s (Fed) next steps, optimism about the robustness of the US economy is helping the Greenback to gain ground. The forthcoming decision from the Fed due on Wednesday alongside the labor market data expected this week will be pivotal indicators for the market.
The US is starting to show signs of disinflation that strengthen the market's confidence in a possible rate cut in September. However, the overall economy remains resilient as evidenced by the incoming data, which might delay the pivot to rate cuts.
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