ADIV - Japan Confirms Intervention China's PMI Disappoints EMU CPI Firms Ahead Of U.S. PCE Deflator
2024-05-31 07:15:00 ET
Summary
- The dollar is mostly consolidating yesterday's losses ahead of month-end and the US income and consumption data.
- The PCE core deflator may have risen by 0.2%, the least this, year, but the year-over-year rate is expected to be steady at 2.8%.
- The 0.2% increase in May means that at an annualized rate in the first five months of the year, eurozone inflation rose by 4.3%.
Overview
The dollar ([[DXY]], [[USDOLLAR]]) is mostly consolidating yesterday's losses ahead of month-end and the US income and consumption data. The PCE core deflator may have risen by 0.2%, the least this, year, but the year-over-year rate is expected to be steady at 2.8%. The dollar is recovering from a five-day low against the yen recorded yesterday near JPY156.40 and is near JPY157.30 in the late European morning turnover. The yen's retreat and a disappointing Chinese PMI have weighed on the yuan. The euro is bid after the firm year-over-year CPI reading. Sterling is little changed, in a narrow range above $1.2700. Emerging market currencies are mixed. The ANC looks to have lost its majority in South Africa, and the rand is slightly lower today and is off around 2% this week. It is the weakest in the emerging market space, closely followed by the Mexican peso, which is off 1.9% this week. Mexico votes on Sunday....
Japan Confirms Intervention, China's PMI Disappoints, EMU CPI Firms Ahead Of U.S. PCE Deflator