Institution: US PCE data on Thursday may boost the dollar
Tickmill Group analyst James Harte stated in the report that if the US PCE inflation data released on Thursday shows that inflation pressure remains high last month, further weakening the Fed's rate cut expectations, the dollar may rise this week. As long as the Fed continues to emphasize the need for caution before adjusting rates into restrictive territory, the dollar "may remain strong." He said that with the Fed reiterating its lack of urgency to cut interest rates, a sharp downside surprise may be needed to cause a meaningful shift in market views.
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