The dollar index fell to levels it has not reached since April 2022, when it reached the level of 99,590, which is its worst weekly performance in eight months, affected by the weaker inflation data in the United States and the consumer price index on Wednesday and producer prices on Thursday, which supports views that the Federal Reserve is approaching the end of its cycle. raise interest rates

Where the second quarter earnings season could also give the Federal Reserve to think about any additional increases as executives make statements about current business and consumer demand and their expectations for the rest of the year as revealed by the latest US Federal Reserve data when bank deposits rose, but on the other hand, lending decreased in the week ending 5 July, as the latest data from the Federal Reserve showed, for the time being, all eyes are now on the Fed and what it will do with interest rates when policymakers sit down again on July 26 to decide on interest rates, and as the Federal Reserve’s Federal Open Market Committee decides to pass Last month’s increase Economists in all likelihood believe the committee will vote on an increase of 25 basis points this time in line with the pace of recent increases.

Currently, the price is at the 99.950 level, if the 99.037 level is broken, which is considered a strong monthly area and the (0.61 Fibo) area, we will witness a sharp decline towards the areas of 97.773/96.500, but if the price rebounds from the current area and stabilizes above the 100.790 area, we will witness a rise towards the areas of 101.073/101.476