FOREX TradingCharts.com
HOMECHARTS & QUOTESFOREX NEWSFOREX QUOTESLEARN FOREXFOREX BROKER LISTBOOKMARKFEEDBACK

Forex News: U.S. Dollar Higher As PCE Inflation Data In

U.S. Dollar Higher As PCE Inflation Data In Focus

04/28/2023 - 06:47:00 (RTTNews)

(RTTNews) - The U.S. dollar firmed against its major counterparts in the European session on Friday, as market participants await the personal consumption expenditure price index, the Fed's preferred gauge of inflation, due out later today.

Economists expect the core PCE price index to rise 0.3 percent month on month and 4.5 percent year on year in March.

Overnight data showed that the quarterly inflation reading within the GDP data rose more than expected in the first quarter.

The core PCE price index climbed 4.9 percent in the first quarter after rising 4.4 percent in the fourth quarter. Economists had expected a 4.7 percent increase.

The Fed meeting is due next week and traders are expecting an 85.7 percent chance of a 25-basis-point rate hike.

The greenback climbed to 0.8975 against the franc and 1.2446 against the pound, from an early low of 0.8927 and a 2-day low of 1.2503, respectively. The greenback may find resistance around 0.91 against the franc and 1.21 against the pound.

The greenback appreciated to a 2-day high of 1.0976 against the euro and a 1-1/2-month high of 135.86 against the yen, off its early lows of 1.1039 and 133.36, respectively. The currency is seen finding resistance around 1.06 against the euro and 138.00 against the yen.

The greenback touched 1.3667 against the loonie, its highest level since March 28. The greenback is likely to face resistance near the 1.38 level.

The greenback was higher against the kiwi, at 0.6123. On the upside, 0.59 is possibly seen as its next resistance level.

The greenback firmed to a 1-1/2-month high of 0.6578 against the aussie, reversing from an early 3-day low of 0.6642. Next immediate resistance for the currency is seen around the 0.64 level.

Looking ahead, German preliminary inflation data for April, Canada GDP data for February, U.S. PCE price index for March, U.S. Chicago PMI for April, U.S. University of Michigan final consumer sentiment index for April and U.S. Baker Hughes oil rig count data are due in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2023 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Extends Gains Amidst Debt Drama (12 hr(s), 04 min(s), 46 sec(s) ago)
(RTTNews) - Despite all the noise surrounding the U.S. debt limit and the negotiations to avert a ...Full Story»
U.S. Dollar Trades Lower Against Majors (12 hr(s), 34 min(s), 46 sec(s) ago)
(RTTNews) - The U.S. dollar was lower against its major counterparts in the European session on Tu ...Full Story»
Pound Higher As Risk Sentiment Improves (14 hr(s), 28 min(s), 46 sec(s) ago)
(RTTNews) - The pound firmed against its major counterparts in the European session on Tuesday, as ...Full Story»
Commodity Currencies Slide (20 hr(s), 28 min(s), 46 sec(s) ago)
(RTTNews) - Commodity currencies such as the Australia, the New Zealand and the Canadian dollars w ...Full Story»
Canadian Dollar Drops Against Most Majors (21 hr(s), 46 min(s), 46 sec(s) ago)
(RTTNews) - The Canadian dollar weakened against its most major currencies in the Asian session on ...Full Story»
NZ Dollar Slides Against Most Majors (21 hr(s), 52 min(s), 46 sec(s) ago)
(RTTNews) - The New Zealand dollar weakened against its most major currencies in the Asian session ...Full Story»
Australian Dollar Falls Against Majors (22 hr(s), 10 min(s), 46 sec(s) ago)
(RTTNews) - The Australian dollar weakened against other major currencies in the Asian session on ...Full Story»
Euro Lower In Cautious Trade (12 hr(s), 25 min(s), 46 sec(s) ago)
(RTTNews) - The euro traded lower against its major counterparts in the European session on Monday ...Full Story»
Search

FOREX NEWS

Dollar Extends Gains Amidst Debt Drama

05/30/2023 - 10:56 AM (RTTNews)
(RTTNews) - Despite all the noise surrounding the U.S. debt limit and the negotiations to avert a ...Full Story>>

U.S. Dollar Trades Lower Against Majors

05/30/2023 - 10:24 AM (RTTNews)
(RTTNews) - The U.S. dollar was lower against its major counterparts in the European session on Tu ...Full Story>>

Pound Higher As Risk Sentiment Improves

05/30/2023 - 08:30 AM (RTTNews)
(RTTNews) - The pound firmed against its major counterparts in the European session on Tuesday, as ...Full Story>>

Commodity Currencies Slide

05/30/2023 - 02:32 AM (RTTNews)
(RTTNews) - Commodity currencies such as the Australia, the New Zealand and the Canadian dollars w ...Full Story>>

Canadian Dollar Drops Against Most Majors

05/30/2023 - 01:14 AM (RTTNews)
(RTTNews) - The Canadian dollar weakened against its most major currencies in the Asian session on ...Full Story>>
USDCAD
Economic CalendarForex GlossaryForeign Exchange RatesForex Currency TradingForex ChartsPrivacy Policy Translate AdvertiseContact Us

Do not sell my personal information

Copyright © 2023. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.