EURUSD : The market is waiting for PCE data, the Fed's preferred
Updated
According to the Bureau of Economic Analysis, US GDP in the third quarter increased 5.2%, up from an estimate of 4.9%. Stronger GDP data boosted the USD.
Expert Jeffrey Roach of LPL Financial, a financial company, said that inflation is trending down, consumers are still spending but at a slower pace, and the Fed can end the cycle of raising interest rates without causing harm. too much impact on the economy. Traders are currently predicting the Fed will lower interest rates in the first half of next year.
Cleveland Fed President Loretta Mester supports a third pause in interest rate hikes at the December meeting, while Atlanta Fed President Raphael Bostic believes inflation is falling.
Earlier this week, other Fed officials made similar comments. However, Richmond Fed President Thomas Barkin warned that he should keep the option of raising interest rates again if inflation rises again.
The market is waiting for PCE data, the Fed's preferred interest rate measuring tool, with many predicting this index will decrease.
Expert Jeffrey Roach of LPL Financial, a financial company, said that inflation is trending down, consumers are still spending but at a slower pace, and the Fed can end the cycle of raising interest rates without causing harm. too much impact on the economy. Traders are currently predicting the Fed will lower interest rates in the first half of next year.
Cleveland Fed President Loretta Mester supports a third pause in interest rate hikes at the December meeting, while Atlanta Fed President Raphael Bostic believes inflation is falling.
Earlier this week, other Fed officials made similar comments. However, Richmond Fed President Thomas Barkin warned that he should keep the option of raising interest rates again if inflation rises again.
The market is waiting for PCE data, the Fed's preferred interest rate measuring tool, with many predicting this index will decrease.
Note
🇪🇺 🐱EURUSD BUY 1.0900 - 1.0890 🐱✔️TP: 1.0920
🚫SL: 1.0870
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