Look ahead: Core PCE, eurozone CPI; Japan industrial production; German retail sales
It’s all about inflation, specifically the personal consumption expenditures (PCE) price index, which will be closely watched for clues about the direction of US interest rates over the rest of the year.
Eurozone CPI and German retail sales data will be key after data showed warmer-than-expected inflation in the bloc’s economic powerhouse. Plus, look out for the latest Japanese industrial production print.
(AI Video Summary)
Upcoming Core PCE, CPI, GDP and PMI
In this financial "Look ahead" to Friday, 31 May 2024, emphasis lies on the upcoming US Core PCE data which is a crucial indicator for potential Federal Reserve rate adjustments. Additionally, various international economic indicators such as Japan’s industrial production and CPI, the eurozone’s CPI and GDP figures, and China’s PMI data are in focus.
Forex movements
Key currency movements like the USD/JPY and EUR/USD provide insights, with technical patterns suggesting consolidation and trends that could influence future monetary policies. This compilation of economic indicators and currency analysis plays an essential role in informing trading strategies and predicting central bank actions.
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