US Dollar keeps its cool ahead of key US GDP data this week – by eren_fxstreet DollarIndex UnitedStates Macroeconomics GDP Technical Analysis
k virtually unchanged. At the beginning of the new week, the USD stays under modest selling pressure against its rivals. Ahead of the key macroeconomic data releases later in the week, including the first quarter and April Personal Consumption Expenditures Price Index, investors could refrain from betting on further USD weakness.
S&P Global Manufacturing PMI improved to 50.4 in the same period from 49.2 and Services PMI rose to 53.7, surpassing analysts' forecast of 51.5. US stock index trades modestly lower on Monday, suggesting that Wall Street’s main indexes could start the week on the back foot.The Federal Reserve Bank of Chicago will release the National Activity Index for March on Monday. The Federal Reserve Bank of Dallas will publish the Texas Manufacturing Survey for April as well.
Meanwhile, the Relative Strength Index indicator on the daily chart moves sideways slightly below 50, suggesting that buyers remain reluctant to bet on a steady recovery in the DXY.
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