Markets are focusing their attention on Friday’s US PCE deflator, says DBS analyst Philip Wee.
All eyes on Friday’s US PCE deflator
“The Dollar Index (DXY) rose 0.2% to 105.63 overnight, but remained in the 105.10-105.90 range established following the June 12 Federal Reserve meeting. At the time of writing, the DXY was almost touching 106.00 (+0.36%).”
“The same trading behavior was also evident in the US 10-year Treasury yield, which strengthened 1.6 basis points to 4.25%, within a range of 4.20-4.30% for the comparable period.”
“All eyes will be on Friday’s US PCE deflator, which is expected to reflect the drop in CPI inflation from a fortnight ago. In addition, the Fed’s recent concern about the increase in the interest rate US unemployment at 4% in May has not gone unnoticed.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
