Economists at ANZ Bank expect the US Dollar to remain resilient ahead of the US Consumer Price Index (CPI) report tomorrow. However, the greenback could see some selling pressure following the release.

USD to be supported at the current range around 103

“January US CPI is the key event for the DXY, with Core Services Excluding Housing in focus. On a YoY basis, we expect January core CPI would result in core easing to 5.4% from 5.7% and headline to 6.2% from 6.5%.” 

"Based on our forecasts of a slight decline in YoY figures, some easing in USD strength could be expected following the release.”

“Ahead of CPI, we expect the USD to be supported at the current range around 103.”