The DXY has been moving higher since the 16th May, will US GDP create the next spur to the upside as speculators weigh in on their next targets for the greenback?
This week we saw Nvidia surge on forecasts of AI hopes moving forward, bringing the Nasdaq and S&P500 to fresh ATH's once again, providing us with a risk on market environment in the midst of the geopolitical unrest.
Speculators are clamoring to provide their expectations for the Dollar in the coming month, with some analysts predicting a strong run to 107.00, with others proclaiming with a risk-on environment i.e. Indices and Crypto brushing ATH's the Dollar may see more pressure, likely visiting 103.00 again soon.
US GDP on Thursday this upcoming week could provide us an insight into the overall US economic health and provide speculators with a macro-leniency towards longer-term targets for the DXY.
In other news this week we have Aussie Retail Sales and CPI, HICP for Germany and the Eurozone, Retail Sales for Germany and GDP for Canada.