US Dollar Nears New Highs Ahead of Inflation Data and Powell Speech
• US Dollar trading near fresh highs ahead of PCE inflation data release on Friday when liquidity is expected to be thin • PCE inflation forecast to rise from 2.4% to 2.5% annually, supporting further Dollar gains • US Dollar Index has 104.60 as first pivotal level, with 105.00 and then 105.12 as next key resistance areas • Fed Chairman Powell scheduled to speak Friday afternoon, potentially impacting Dollar movement • Technical analysis suggests Dollar bulls are in control, with little support seen until 103.00 big figure