The Dollar at a Turning Point: FOMC Scenarios to Watch

The Dollar at a Turning Point: FOMC Scenarios to Watch

The Dollar at a Turning Point: FOMC Scenarios to Watch

Dear Traders,

The US dollar is at a critical inflection point, and this week’s FOMC decision (Wednesday, July 29, 2026 at 18:00 GMT) could be the catalyst that breaks it out.

The Fed’s June dots lean hawkish (9 of 18 members still pricing a hike), but the data tells a different story — CPI cooling, a weak +57K NFP print, and oil down 8%. This fundamental disconnect is why the DXY is stuck at 101, caught between two opposing forces.

Possible scenarios are:

  • A hawkish hold keeps DXY bid toward 102.
  • A dovish pivot sends it toward 100.
  • A surprise hike takes it to 103+.

We’ve broken down the scenarios, key levels, and what this means for EUR USD, USD JPY, GBP USD, and Gold.

Read the full analysis: US Dollar Holds Steady as Markets Await FOMC Decision

Best regards,

Errante Pulse Team