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Analyst: PCE and non-farm payroll data will likely verify whether the dollar's rally can continue

2 hours ago

Capital.com analyst Daniela Hathorn stated in a report that upcoming U.S. economic data will determine whether the current rally of the U.S. dollar has further upside potential. She explained that if inflation and labor market data continue to support the narrative that interest rates will remain elevated for an extended period, the dollar should continue to draw support. If price pressures start easing faster, markets may begin to question whether current interest rate expectations have become overly aggressive. The PCE data (the U.S. Federal Reserve’s preferred inflation gauge) and initial jobless claims data are set to be released on Thursday, while the non-farm payrolls report is due on July 2. (Jin10)

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