EUR/USD battles to get traction in the 2nd half of the week. Will the easter bunny bring quotes listed below 1.0800? Economic experts at Commerzbank examine the set’s outlook.
Possibly a little tailwind for the Dollar
The genuine information heavyweight is not on the program up until Good Friday: the deflator for customer costs or the PCE index, the Fed’s favored step of inflation. As the customer and manufacturer cost information for February have actually currently been released, the PCE index is typically rather simple to anticipate.
Our professionals anticipate +0.4% month-on-month and +0.3% for the core rate, which must indicate yearly rates of 2.5% and 2.8% respectively. The information for December and January are most likely to be modified somewhat upwards.
June is now back in focus as the timing for the very first Fed rate cut, the still stubbornly high inflation information or declarations such as that made by FOMC Governor Christopher Waller at the Economic Club of New York that there is no rush to cut the crucial interest rate, might still lead to the Dollar acquiring a tailwind in thin markets and EUR/USD splitting the 1.0800 mark on the Easter weekend.
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