ING Group: PCE data may boost the US dollar
According to a report by Golden Ten, Francesco Pesole, a foreign exchange analyst at ING Group in the Netherlands, stated that the PCE data released tonight may boost the US dollar. He believes that the data should be strong enough to indicate that the recent market reduction in expectations of a Fed rate cut is correct. Pesole expects core PCE to increase by 0.4% on a month-on-month basis, which will support a repricing of hawkish expectations for Fed interest rates. He predicts that after the data is released, the US dollar will receive some support.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
After the sharp decline in tech stocks, the White House suddenly canceled the top tech advisor meeting the following day.
The White House has canceled the previously scheduled President’s Council of Advisors on Science and Technology meeting, which was set for Friday and includes prominent tech leaders such as Nvidia CEO Jensen Huang and Meta CEO Mark Zuckerberg. The Department of Energy's meeting page briefly listed November 13 as the new meeting date, but the agency later sent an email retracting this information. Currently, the specific date for rescheduling the meeting remains unclear.
Turtle Creek Asset Management Reports Sale of $347,850 in Jeld-Wen Common Shares
GLOBALFOUNDRIES Director Ganesh Moorthy Reports $93,687.50 Share Acquisition
Crypto prices
More
