The core Personal Consumption Expenditures Price Index is set to rise 0.1% MoM and 2.6% YoY in May. Markets see a nearly 40% probability that the Federal Reserve will leave the policy rate unchanged in September. A hot PCE inflation report could provide a boost to the US Dollar heading into the weekend. The core Personal Consumption Expenditures Price Index, the US Federal Reserve’s preferred inflation measure, will be published on Friday by the US Bureau of Economic Analysis at 12:30 GMT.
Hence, quarter-end flows and position adjustments could ramp up market volatility and cause the USD to move irregularly. FXStreet Analyst Eren Sengezer offers a brief technical outlook for EUR/USD and explains: “Despite several recovery attempts seen in the last couple of weeks, the Relative Strength Index indicator on the daily chart stays below 50, reflecting buyer’s hesitancy. Furthermore, EUR/USD remains within the descending regression channel coming from early June.” “1.
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