USD Fluctuates Sharply On GDP, Focus Now On PCE
Prices fluctuated sharply yesterday and provided almost no profitable trading chance in terms of our signal entries. The U.S. dollar fell on the GDP figure disappointment but turned around straight as traders factored in the PCE increases. Today’s Core PCE Price index, scheduled for release at 12:30 GMT is expected to come in at 2.6 percent.
However, the market fully priced in a 25bp rate cut in November, which is why today’s release is unlikely to be the game changer.
As always, we wish everyone a beautiful weekend!
Note that we will be on vacation from 29/4/24 until 13/5/24 so there will be no signal service during that period.
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Our trading ideas for today 26/4/24:
EUR/USD
Long @ 1.0760
Short @ 1.0670
GBP/USD
Long @ 1.2515
Short @ 1.2490
DAX® (GER40)
Long @ 18060
Short @ 17990
Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.
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