
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3. The PCE indicator differs from the core CPI as it measures only goods and services consumed by individuals. Prices are weighted according to the total cost of a product. It provides essential information about consumer behavior.
US inflation is still a big and triggering topic. Despite the Fed's attempts to pull it lower, prices rise swiftly. Thus, traders look for hints on faster rate hikes. Expectations of such policy push the USD up. The US dollar index is trading near the highs at around the 105 level.
On April 29, Core PCE rose by 0.3%, as expected. EURUSD had dipped on the announcement, but then it shortly recovered, overshadowed by the weaker-than-expected Chicago PMI (56.4 vs. 62.1). Trading one lot on this move would have brought you $150.
How to trade on the US Core PCE Release?
As the PCE index is crucial, it is likely to influence gold and the USD pairs. Gold is considered a hedge against inflation, but PCE high numbers increase the chance of rate hikes. Thus, the metal may fall against the USD.
Instruments to trade: XAUUSD, EURUSD, USDCAD, USDCHF.
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
We prepared an outlook of major events of this week. Check it and be ready!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!