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.
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