U.S. Economic Data Holds FX Traders in Suspense
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Today’s markets evaluation on
27thMarch 2024
The greenback index continued its rise, nearing a multi-week excessive, nonetheless, merchants could possibly be extra cautious as they anticipate new financial information this week.
Investors are carefully watching the upcoming U.S. PCE value index report on Friday for insights into the Federal Reserve’s financial coverage trajectory. Expectations that U.S. rates of interest could keep elevated in comparison with different main economies might proceed to assist the dollar, driving merchants to hunt refuge in the greenback to profit from yield differentials.
In addition, Thursday will see merchants deal with the discharge of the U.S. GDP Growth Rate QoQ Final This fall figures, with market consensus projecting a lower to three.2% from the earlier studying of 4.9%.
A lower-than-expected GDP determine might dampen the greenback’s latest rally and bolster rate of interest cuts expectations. However, all eyes might be on Friday’s speech by Fed Chair Powell, which has the potential to introduce volatility in the market.
Neel Achary
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