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Market awaits US PCE and Canadian GDP, amid Fed rate cut speculation linked to inflation concerns.
The PCE report will reveal inflation trends, influencing Federal Reserve rate decisions, while Canada’s GDP growth is analyzed.
In the fourth quarter, Canada’s annualised GDP reached 2.6%, surpassing expectations of 1.9%.
Canada’s GDP grew 2.6%, USD mixed, gold dipped, and GBP/USD remained resilient ahead of key events.
As the US session starts, traders monitor key levels for EURUSD, USDJPY, and GBPUSD movements.
Traders await US PCE data; USDJPY rises, EURUSD declines, GBPUSD gains. Dow, S&P up; Nasdaq unchanged.
In the fourth quarter, Canada’s GDP increased to 0.6%, up from the previous 0.3%.
Canada’s GDP grew to 0.6%, euro stabilised, gold fell, and GBP/USD held above 1.2600 post-PCE data.
Imminent US inflation data will provide crucial ranges for market participants to observe closely.
Core PCE data releases at 8:30 AM ET, with expected increases impacting economic assessments and market reactions.
