Posted 12/18/2023, 5:57:51 PM
Dollar Weakens Ahead of Friday Inflation Data That Could Sway Fed Rate Cut Outlook
- The US Dollar experienced some weakness to start the week ahead of key inflation data on Friday that could impact Fed policy outlook
- Markets seem overly optimistic about potential Fed rate cuts in 2024 based on latest meeting
- Technical analysis shows bearish momentum for the Dollar index in the short-term
- Support levels at 102.00, 102.30, 101.50; Resistance at 103.45, 104.60, 104.80
- PCE inflation figures on Friday are critical to gauge sticky inflation and possibility of Fed delays on rate cuts