A key inflation gauge used by the Federal Reserve, known as the personal consumption expenditures index, rose 0.6% in January, faster than the 0.2% gain in December.
On a year-over-year basis, PCE rose to 5.4% in January from 5.3% in December. Core prices, excluding fuel and food, rose 0.6% and 4, respectively, 7% for the month and for the whole year.
Hotter-than-expected inflation could encourage the Fed to keep rates higher for longer. The market expects the central bank to raise interest rates by a quarter of a percent in March and again in May. The policy rate is expected to hit 5.36% by mid-summer and could sustain it. at a high level for the remainder of 2023.
Recommendations for trading after PCE
Support level: 1,800.30 1,797.45 1,782.90
Resistance levels: 1,834.00 1,845.99 1,860.00
Trading recommendation:
Buy soup at the price range 1809 - 1808
Stop Loss: 1803
Take profit 1: 1823
Take profit 2:1830
Take profit 3: 1835
Note: Always set TP and SL in all trading cases
On a year-over-year basis, PCE rose to 5.4% in January from 5.3% in December. Core prices, excluding fuel and food, rose 0.6% and 4, respectively, 7% for the month and for the whole year.
Hotter-than-expected inflation could encourage the Fed to keep rates higher for longer. The market expects the central bank to raise interest rates by a quarter of a percent in March and again in May. The policy rate is expected to hit 5.36% by mid-summer and could sustain it. at a high level for the remainder of 2023.
Recommendations for trading after PCE
Support level: 1,800.30 1,797.45 1,782.90
Resistance levels: 1,834.00 1,845.99 1,860.00
Trading recommendation:
Buy soup at the price range 1809 - 1808
Stop Loss: 1803
Take profit 1: 1823
Take profit 2:1830
Take profit 3: 1835
Note: Always set TP and SL in all trading cases
Note
XAUUSD CLOSE PROFIT + 90Pips ✅ ✅ ✅ according to buy strategy 1808 - 1809
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.