US Dollar Forecast: Strong PMI Data Lift DXY Ahead of FOMC Minutes
Strong U.S. PMI data has significantly boosted the Dollar Index, bringing it to 106.94. Traders eagerly await the upcoming FOMC minutes for insights into future monetary policy direction. As market participants analyze economic data, gold prices encounter pressure, declining below 2,664. The connection between PMI performance and dollar strength underscores the importance of economic indicators in shaping currency markets. Investors must remain vigilant as the Fed’s decision-making process comes under scrutiny following this uplifting data. Economic landscapes continue to shift, demanding adaptive trading strategies.