U.S. Dollar Climbs Ahead Of PCE Inflation Data
31 Marzo 2023 - 09:45AM
RTTF2
The U.S. dollar was higher against its major counterparts in the
European session on Friday, as investors awaited the release of key
U.S. inflation data later in the day that could influence the Fed's
monetary policy path.
Comments from three Fed officials suggested that more policy
tightening was needed to combat persistent inflation.
While Boston Fed President Susan Collins expects one more
quarter-point rate increase, Richmond Fed President Thomas Barkin
said he remains undecided on how to adjust rates at the May
meeting.
Minneapolis Fed President Neel Kashkari said the Fed needs to
focus on lowering inflation back to 2 percent and that it's not yet
fully clear what impact the collapse of Silicon Valley Bank will
have on the economy.
According to the CME's FedWatch tool, investors are now pricing
in a 53.2 percent chance of a 25 basis point increase at its next
meeting in early May and a 46.8 percent probability of
no-change.
The greenback rose to 0.9177 against the franc and 1.0872
against the euro, from its prior lows of 0.9123 and 1.0925,
respectively. The currency is seen facing resistance around 0.93
against the franc and 1.05 against the euro.
The greenback was up against the yen, at a 2-week high of
133.59. On the upside, 137.00 is possibly seen as its next
resistance level.
The greenback climbed to 0.6670 against the aussie, 0.6247
against the kiwi and 1.3564 against the loonie, after falling to
more than a 2-month low of 1.2423 and 1-1/2-month lows of 0.6297
and 1.3507, respectively in early deals. The greenback may find
resistance around 0.65 against the aussie, 0.60 against the kiwi
and 1.38 against the loonie.
The greenback appreciated to 1.2353 against the pound, from an
early more than 2-month low of 1.2423. Next near term resistance
for the currency is likely seen around the 1.05 level.
Looking ahead, Canada GDP data for January, University of
Michigan's final consumer sentiment index for March and U.S.
personal income and spending data for February will be released in
the New York session.
Grafico Cross Sterling vs US Dollar (FX:GBPUSD)
Da Mag 2023 a Mag 2023
Grafico Cross Sterling vs US Dollar (FX:GBPUSD)
Da Mag 2022 a Mag 2023
