US GDP coming up later

Some thoughts on market positioning

I see on the comments that we're already itching for the US GDP number coming up during the US session.

With the DXY coiling up, we see that technicals are set up for fundamentals to do their thing.

Some thoughts.

• Markets expect a quality number.
• 4.2% expected v 2.0% previously.
• Would be strongest print in years.
• Strong number will embolden the Fed and be bullish USD.

DXY Hourly Update:

If the DXY continues to rally into the upper end of that daily resistance zone, the market is obviously keen.

This means it's going to need a good number to really pop.