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Entity: The Dollar Could Rise on US GDP Data and Fed Decision
BlockBeats News, July 30th. Analysts at Monex Europe stated in a report that if the upcoming US economic growth data shows strength and Federal Reserve Chair Powell adopts a cautious attitude towards rate cuts in the later decision, the US dollar may further rise. The US second-quarter economic growth data will be released at 20:30 (Beijing time), and the Fed's policy decision will be announced at 02:00 the next day, with the interest rate expected to remain unchanged.
However, the analysts noted that the US dollar's upside is likely to be limited. They stated that the dollar's rise earlier this week seems to be more related to position adjustments ahead of key events rather than a fundamental reassessment of its value. (FXStreet)
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