• US Dollar struggles to gather strength but losses remain limited for now.
• Key macroeconomic data releases from the United States this week could drive USD valuation.
• US Dollar Index remains technically bearish in the near term.

The US Dollar (USD) failed to benefit from the stronger-than-expected S&P Global PMI surveys on Friday and the US Dollar Index closed the previous week virtually unchanged. At the beginning of the new week, the USD stays under modest selling pressure against its rivals. Ahead of the key macroeconomic data releases later in the week, including the first quarter Gross Domestic Product (GDP) and April Personal Consumption Expenditures (PCE) Price Index, investors could refrain from betting on further USD weakness.   

The US Dollar Index, which tracks the USD performance against a basket of six major currencies, stays calm slightly above 101.50 on Monday. 

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