The USD correction could continue today – Commerzbank

Source Fxstreet

On Monday, the US Dollar (USD) ended the day in the red for once. Economists at Commerzbank analyze Greenback’s outlook.

The USD is running out of steam at current levels

The USD is running out of steam at current levels. But this should not come as a surprise. At some point, even the last market participant will have internalized the officials' statements and formed their own opinion. And to be honest, not much has changed since last week, at least as far as the USD is concerned. Rather, the data will likely continue to be the determining factor in the Fed's direction.

Friday's PCE deflator will certainly be the most important indicator for an assessment. After all, given the strength of the US economy, inflation will ultimately determine when and how quickly the Fed will cut interest rates. However, today's wave of second and third tier data could already cause some movement. If the trend of the last few weeks continues, when the data tended to be disappointing and doubts about the US growth story began to surface, the USD correction could continue today.

 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold picks up ascent despite risks residing in the backgroundGold’s price (XAU/USD) soars again and resumes its rally near $2,920 at the time of writing on Thursday, with Bullion traders shrugging off the United States (US) Consumer Price Index (CPI) data for January released on Wednesday.
Author  FXStreet
10 hours ago
Gold’s price (XAU/USD) soars again and resumes its rally near $2,920 at the time of writing on Thursday, with Bullion traders shrugging off the United States (US) Consumer Price Index (CPI) data for January released on Wednesday.
placeholder
Elon Musk handed double loss in Trump and Altman court rulingsElon Musk was handed back-to-back losses with the latest developments in different legal proceedings with President Donald Trump and Sam Altman, the CEO of OpenAI.  President Donald Trump got a $10 million settlement out of his lawsuit against X for deplatforming him. Meanwhile, a judge found that Musk’s unofficial $97.4 billion bid for OpenAI contradicts […]
Author  Cryptopolitan
11 hours ago
Elon Musk was handed back-to-back losses with the latest developments in different legal proceedings with President Donald Trump and Sam Altman, the CEO of OpenAI.  President Donald Trump got a $10 million settlement out of his lawsuit against X for deplatforming him. Meanwhile, a judge found that Musk’s unofficial $97.4 billion bid for OpenAI contradicts […]
placeholder
Pound Sterling strengthens on upbeat UK GDP data, risk-on market moodThe Pound Sterling (GBP) strengthens in Thursday’s European session due to multiple tailwinds, such as upbeat United Kingdom (UK) data and a cheerful market mood.
Author  FXStreet
11 hours ago
The Pound Sterling (GBP) strengthens in Thursday’s European session due to multiple tailwinds, such as upbeat United Kingdom (UK) data and a cheerful market mood.
placeholder
EUR/USD: Unlikely to break above the major resistance at 1.0450 – UOB GroupChance for Euro (EUR) to retest the 1.0430 level; it is unlikely to break above the major resistance at 1.0450. In the longer run, outlook remains unclear; price movements are likely to stay within a 1.0250/1.0450 range for now, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
Author  FXStreet
11 hours ago
Chance for Euro (EUR) to retest the 1.0430 level; it is unlikely to break above the major resistance at 1.0450. In the longer run, outlook remains unclear; price movements are likely to stay within a 1.0250/1.0450 range for now, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
placeholder
Battle Of The Memes; Dogecoin (DOGE) And Pepe (PEPE) Battle It Out For Top Spot In 2025 As Remittix Could 50x By July If This HappensAs meme coin hype keeps surging, two frontrunners, Dogecoin (DOGE) and Pepe (PEPE) are locked in a fierce clash for 2025 supremacy. Boasting enormous social-media traction and armies of meme-loving investors, both aim to outdo each other through quick pumps and spirited branding. Yet the market also whispers about a PayFi alt that might overshadow […]
Author  Cryptopolitan
12 hours ago
As meme coin hype keeps surging, two frontrunners, Dogecoin (DOGE) and Pepe (PEPE) are locked in a fierce clash for 2025 supremacy. Boasting enormous social-media traction and armies of meme-loving investors, both aim to outdo each other through quick pumps and spirited branding. Yet the market also whispers about a PayFi alt that might overshadow […]
Related Instrument
goTop
quote