"Market Dynamics: US Dollar Reacts to Core PCE and Inflation Data"

The US dollar's near-term trajectory and the FOMC’s guidance may be influenced by the release of core personal consumption expenditures data, the Fed’s preferred inflation gauge. A subdued core PCE reading below 3.0% could lead to a sharp turn to the downside for the greenback, potentially validating market pricing of deep interest rate cuts. Meanwhile, EUR/USD is facing potential pullback towards 1.0770, GBP/USD is consolidating within a symmetrical triangle, and gold is confined between $2,030 and $2,005 with potential breakout levels at $2,065 and $1,990.