Data for the first half of 2023 showed that it is strong in favor of the US economy, especially the gross domestic product index, despite the fixation of US interest rates at the last meeting.
The US Federal Reserve will again complete the curb on inflation and raise interest rates twice, in July and September
The Fed’s next decision on interest rates will be on July 26 and many economists expect the central bank to add another quarter percentage point to the interest rate at that meeting, bringing it to a peak of 5.5% as it tries to further tame inflation.
The dollar index fell on Friday, after gains for two consecutive days, after economic data showed a slowdown in consumer spending, which raised some doubts about the prospects for further interest rate increases by the Federal Reserve.
The dollar is an upward sub-trend component, and currently the price is at the 102.921 area. If the price stabilizes below the 102.780 area, we will witness a decline to the levels of 102.330/102.035, but if the price stabilizes above the 103.450 area, we will witness a rise towards the 104.315/103.836 areas.
