USD Looks Oversold On Intraday Basis Ahead Of A Possible Risk-Off North American Session

News Snapshot:

mirza kadic Overview The US dollar (USDOLLAR,DXY) is trading lower against most currencies, but the intraday momentum indicators are stretched, suggesting the selling pressure may not be sustained through in North America today. December US personal income and consumption data was contained in yesterday's Q4 '23 GDP data, but the market want to see the monthly print, which is expected to see the core measure ease with the headline rate flat. Tokyo's January CPI was much softer than expected, falling to 1.6% at the headline and core rates. Still, the market looks for the BOJ to exit its negative interest...