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A big day for US data releases- Dollar index (USDX) poised to react?

There is a whole host of US data due out this afternoon. We have the latest monthly GDP numbers, Q3 and October PCE (Personal Consumption and Expenditure), initial jobless claims, Durable goods orders, trade balance and weekly jobless claims. This deluge of data will fall due at 1.30pm GMT and 3pm GMT. There will be more to add on all of it later. Meantime, the dollar is mixed this morning after rebounding versus Europe yesterday, but losing out to Japan so far this morning. The broader gauge of that would be the price action in the Dollar index (USDX). That index peaked last week at 108.07, as was noted here last Friday. Well, since rising to hit that 2024 high, the index has been tracking lower and yesterday it reached a low at 106.49, before bouncing back above 107 yesterday evening. It is below that 107 handle this morning though. There has been no doubting the upward trend for the past few weeks, but it has certainly stalled so far this week and we now have to see, if there is a further relapse ahead of the month-end and US Thanksgiving holiday tomorrow. In addition, we also have to see what impact any of this US data might have later today. The index is currently trading at around 106.85
 

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