- The US Dollar locks in gains for this week after hotter-than-expected US CPI and PPI figures.
- Traders are pushing the initial Fed rate cut towards September.
- The US Dollar Index trades at a crucial pivotal level that could unlock 104.00.
The US Dollar (USD) trades in the green on Friday after markets got shaken on Thursday after a badge of US economic data suggested inflation pressures are far from over. A textbook panic attack took place in markets, with risk assets such as equities and Bitcoin selling off, yields jumping higher with bonds being sold and the US Dollar strengthening against everything. The surprise uptick in the Produce Price Index (PPI) numbers spooked investors, who rushed to reprice the first interest-rate cut by the Federal Reserve (Fed) away from June and towards September.
On Friday’s economic calendar, there are some lighter data set to be released. Still, many investors will…
