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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