USD INDEX ADDS TO RECENT GAINS NEAR 102.00 AHEAD OF KEY US DATA

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  • The index extends the optimism and retargets 102.00.
  • US yields pick up extra pace along the curve on Friday.
  • Final Consumer Sentiment, PCE, housing data next on tap.

The greenback, in terms of the USD index (DXY), maintains the bullish outlook and refocuses on the 102.00 barrier and beyond at the end of the week.

USD Index remains supported near 101.50

The index advances for the second session in a row and keeps the positive performance unchanged in the second half of the week, although a convincing breakout of the 102.00 barrier still remains elusive.

In the meantime, the dollar appears propped up by recent positive results from the US calendar, particularly after the US economy expanded more than initially estimated during the last quarter of 2022 ( 2.9%), as per Thursday’s GDP figures.

The improvement in the buck also comes in tandem with extra recovery in US yields across the curve.

In the US data space, inflation figures tracked by the PCE will take centre stage seconded by the final Michigan Consumer Sentiment, Pending Home Sales and Personal Income/Spending.

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