Forex
Dovish Repricing Risks Weigh on US Dollar Amid Stalled Inflation
The US Dollar (USD) is experiencing a consolidation of its recent gains as it tests its 200-day moving average resistance. The US Dollar Index (DXY) is currently at 99.17, and Brent crude oil prices are holding steady under $90 a barrel.
Nvidia Corp's strong revenue and sales numbers have reinforced the strength of the AI capex boom, but this has not had a significant impact on the dollar's value.
The Personal Consumption Expenditures (PCE) Price Index inflation rate remains above the Fed's 2% target at 3.7%, while real personal spending stalled in July.