US Dollar: Data focus and Fed expectations – Commerzbank
The post US Dollar: Data focus and Fed expectations – Commerzbank appeared on BitcoinEthereumNews.com. Commerzbank’s Michael Pfister notes that if negotiations with Iran fail to progress, markets will turn to a heavy slate of US data, including the second estimate of first-quarter GDP and key PCE inflation readings. With FOMC rhetoric turning more hawkish, he stresses that solid growth and stronger PCE are needed to sustain current US rate hike expectations and support the US Dollar. US data and Fed rhetoric in focus “If no significant progress is made in today’s negotiations either, the market will likely focus this afternoon on the series of US data set to be released.” “Admittedly, it is ‘only’ the second estimate of US growth in the first quarter, and the PCE index can usually be estimated quite well from the already released inflation and producer price figures.” “However, given that statements from FOMC members have become increasingly hawkish in recent days and weeks – which is