The US Dollar has regained some strength, with the DXY index recovering from recent lows. The market is focused on the upcoming release of economic data, including the Consumer Confidence Index and the Richmond Fed Manufacturing Index.

The US Dollar has benefited from stronger-than-expected economic data, such as the second reading of GDP growth and the initial jobless claims. However, the market remains uncertain about the Federal Reserve’s monetary policy outlook, with expectations for interest rate cuts in September increasing.

DXY Technical Outlook

The DXY index has shown a short-term recovery, with potential for further gains. However, the index remains below key resistance levels, indicating a potential for further downside. A break below 100.62 could signal a more pronounced decline, with potential support at 99.58.