USD/THB challenges the 20-day SMA, as the Dollar holds steady

The USD/THB modestly advances in Friday’s session standing near 36.63. Fed officials exercising caution against premature policy easing limits further downtick in USD. Better-than-expected growth in US Durable Goods Orders for April lends a helping hand to the Greenback. The focus will turn to next week’s GDP and PCE data from the US.

This outcome portrays a growing US economy that isadditionally backed by firm labor market data reported in Thursday’s lower-than-expected weekly Jobless Claims. In the meantime, the CME Group’s FedWatch Tool suggests a 53% possibility of a reduction in interest rates by September, down from over 60% earlier this week, echoing rising hawkish bets on the Fed which favors the USD.

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