US dollar has been trading near its recent high from March.
The US Dollar Index can hit 105.00.
The US Dollar (USD) never sleeps. And that proverb surely applies on this Friday. The US dollar maintains its recent advances on Good Friday. A bank holiday in which European and US trading desks will operate at a reduced capacity. This could lead to fireworks as limited market liquidity meets critical economic data from the United States.
Traders are enjoying a bank holiday, despite the release of US economic data.
The US Federal Reserve’s chosen inflation gauge is the Personal Consumption Expenditure Price Index (PCE). There is a prospect for another red hot print after the latest Consumer Price Index (CPI) data. Exceeded expectations. Although he will not be carrying any Easter eggs. US Federal Reserve Chairman Jerome Powell will talk later this Friday, and he may surprise us.
Daily Market movers: Looking for clues before looking for chocolate eggs.
At 12:30 GMT, the important data release to watch for:
Personal consumption expenditures in February:
Headline monthly PCE expected to rise from 0.3% to 0.4%.
The headline yearly PCE is predicted to rise from 2.4% to 2.5 percent.
Core monthly PCE is predicted to rise from 0.4% to 0.3%.
The core yearly PCE Index should continue at 2.8%.
The US Goods Trade Balance for February will be released after declaring a $91.6 billion deficit in January.
Personal income is predicted to climb by 0.4% in February, slowing from the 1% gain witnessed in January.
Personal spending should increase from 0.2% to 0.5%.
Wholesale inventory statistics for February will also be revealed. In January, inventories declined by 0.3%.
The Federal Reserve Bank of San Francisco’s Macroeconomics and Monetary Policy Conference will begin at 15:15 GMT, led by President Mary Daly. She will be followed by a remark from Federal Reserve Chairman Jerome Powell at approximately 15:30 GMT.
Equities will not move on Friday since both the European and US markets are closed.
According to the CME Group’s FedWatch Tool, expectations for the Fed’s meeting on May 1 are 95.8%.The federal funds rate will remain constant, with the possibilities of a rate drop at 4.2%.
The benchmark 10-year US Treasury note is trading about 4.20%, up from 4.18% earlier this week.
