US Dollar Consolidates After Payrolls; CPI Data Key, Says TD Securities
The US dollar eased after the weak July jobs report but may hold steady unless upcoming inflation data prompts a dovish Fed repricing, according to TD Securities.
DXY
The US dollar weakened following a disappointing July nonfarm payrolls report, but TD Securities strategists view the pullback as contained for now.
They expect the greenback to consolidate against G10 peers unless the upcoming US consumer price index (CPI) print comes in substantially softer, which would further reduce market expectations for Federal Reserve tightening.
The inflation data release is therefore pivotal for near-term dollar direction.
Source: FXStreet Forex News