PCE in focus, markets potentially with big shifts
Important news for the day
- Fri, 29th, 14:30 CET US PCE price index / Gross domestic product
PCE in focus
Today’s PCE price index might offer more clarity. A potentially stronger reading would likely help the Dollar to rise again. Most currencies remain in a positive trend based on the monthly charts and might lose momentum against the Greenback. A stronger reading might also cause equities to lose some momentum, risk sentiment might fall. On the flipside a weaker number might cause the positive risk sentiment to gear up steam. The recent data from Nvidia caused the S&P 500 to create a new all- time- high and thus the breakout to higher levels might continue also at the last trading day of the month.
Market talk
Markets don’t move much in general but the risk sentiment seem to remain positive. The AUDUSD currency pair keeps rising and indices like the S&P 500 and also Nasdaq kept gearin up some momentum. The German DAX on the other hand remains weaker due to the recent negative dat from the Eurozone. Especially altcoins remain well- bid in this matter. After the creation of a new high in ETH as well as SOL the positive sentiment might continue. Traders will focus on the PCE data from the US today for a clearer picture.
Tendencies in the markets
- Equities positive, USD sideways, BTC lower, ETH correcting, oil sideways, Silver correcting, Gold correcting, JPY sideways
Author
Frank Walbaum
FX Strategies.Asia
Frank has been working in the TV business for several years. Acquiring his skills in Germany’s biggest broadcasting station, he then chose to work and live in Asia, which was in 2007.
