The USD rolls on after a very choppy trading day on Thursday PCE
Friday’s focus is on PCE, the Fed’s preferred inflation metric .
There aren’t any Federal Reserve speaking on Friday, so traders can mainly go into data-trading. At 12:30 GMT, the Personal Consumption Expenditures Price Index numbers will come out. This is the preferred inflation measure for Fedto assess how or where inflation is at the moment in the US. Later, the Chicago Purchase Managers Index is due at 13:45 GMT, while at 14:00 GMT the final reading of the University of Michigan Consumer Sentiment Index for June will be released.
The most expected market moving event for Friday is at 12:30 GMT, namely the Personal Consumption Expenditures Price Index data for May. The PCE Index on a monthly basis is expected to come in at 0.5%, accelerating from 0.4% in April. On a yearly basis, PCE inflation is expected to increase 4.6%, more than the 4.4% rise seen a month earlier. Both the monthly and yearly Core PCE are seen stable at 0.4% and 4.7%, respectively. .
Equities are mixed, with minor gains and losses. In Asia, the Hang Seng is up 0.10% while the Japanese Topix closed down 0.33%. In Europe, the German DAX and the Stoxx 50 are mildly green. US Futures are mixed, with the Dow Jones Industrial below zero but the S&P 500 and Nasdaq futures registering mild gains.
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