USD, EUR/USD, AUD/USD Price Action: Fed, Q2 GDP, CPI in Focus

 

USD: The USD continues to struggle after the most recent US PMI survey revealed an unexpected decline in business activity last week. As a result, although this has indeed contributed to a reduction in the recent strength of the USD, it seems to be more of a tactical retreat than a severe downturn.

Even after the European Central Bank (ECB) shocked the market by hiking interest rates by 50 basis points to bring an end to the period of negative interest rates, the prevailing narrative on Europe is still pessimistic. The growth narrative is more important than the normalization prognosis for the time being, which means that the preference for Euro exposure is on the short side.

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#usd #eur #aud #gdp #cpi #dollar #euro #FED #forexnews #edgeforex

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