Today, it is all about the release of the US Core PCE deflator. Unless we see a soft figure, the Dollar is set to stay bid, economists at ING report.
USD Index to rally toward the 105.88 high on a weekly close above the 104.00/20 area
“Today is all about the April US Core PCE deflator. Expectations are for another firm 0.3% month-on-month / 4.6% year-on-year figure which will feed into the narrative that core inflation is not falling as quickly as the Fed would like. Unless this surprises on the downside, expect the Dollar to stay bid.”
“A DXY close above the 104.00/104.20 area opens up a run at the 105.88 high next week.”
See – US Core PCE Preview: Forecasts from four major banks, inflation to stay elevated in April
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