USD at critical juncture
The dollar index and USD/JPY are testing the breakdown level for the second time. The USD 10Y is testing the breakdown level for the first time. I think this is indicative of the cross currents playing out between inflation slowing down and some not so great stock market action. And of course a still hot job market.
It is the million dollar question: is it going to be a Goldilocks scenario with benign inflation and some growth or will it be a recession?
On the USD calendar, FOMC minutes tomorrow, Jobless claims and GDP on Thursday and most important, Core PCE Price Index on Friday.
It is the million dollar question: is it going to be a Goldilocks scenario with benign inflation and some growth or will it be a recession?
On the USD calendar, FOMC minutes tomorrow, Jobless claims and GDP on Thursday and most important, Core PCE Price Index on Friday.
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