Posted 11/27/2023, 7:30:00 PM
Dollar Volatility Ahead with Data, Powell Speech That Could Sway Rate Cut Bets
- U.S. dollar could see increased volatility this week with personal spending data, ISM manufacturing results, and Powell's speech on tap
- Core PCE inflation and economic activity data could influence rate cut expectations and dollar direction
- EUR/USD faces resistance around 1.0956; breakout could lead to 1.1080, but overbought conditions may limit gains
- USD/JPY stalled at 50-day SMA near 149; support around 147.25, resistance at 149.70 with upside potential toward 150.90
- Powell's upcoming speech will be important for hints about future Fed decisions; hawkish tone could boost the dollar