Greenback hiccuping post key US data

The US Dollar flattens on Friday as investors take profits after a rally on Thursday. The Euro’s lackluster performance after the ECB’s dovish hike has led to traders selling the Euro in the belief the Eurozone economy will crash.

Retail Sales data from the US and Producer Price Index numbers indicate that the US economy is heading for a soft landing. The Greenback is flirting with a ninth weekly close, but it will likely look like a close call in the last trading hours.

The University of Michigan’s Sentiment index eased to 67.7, and the 5-year inflation forecast decreased from 3.0% to 2.7%, suggesting the Fed is done hiking and the US Dollar may lose its driving power.

The CME Group FedWatch Tool suggests a 97% chance that interest rates will remain unchanged at its September meeting.