Investors are now eyeing US PCE amid Fed rate cut bets

The greenback navigated a fairly bearish session on Thursday, giving up much of Wednesday’s gains despite higher yields and amid persistently bullish sentiment about associated risks. universe.

Here’s what you need to know on Friday, September 27:

The US dollar index (DXY) fell significantly and revised the a100.50 region in a favorable context for the risk-on galaxy. PCE data will garner all the attention seconded by the final print of Michigan Consumer Sentiment, Personal Income and Personal Spending.

EUR/USD managed to regain some composure and erased most of Wednesday’s sharp pullback, retesting the 1.1190 area. The German Labor Market Report takes center stage alongside Consumer Confidence, Consumer Inflation Expectations and Economic Sentiment. In addition, the ECB’s Cipollone and Lane are scheduled to speak.

GBP/USD recovered the 1.3400 barrier and above and hit fresh yearly highs on the back of better tone in the risk space. The next major data release on the Channel will be the GDP figures on September 30, along with mortgage approvals.

USD/JPY climbed to three-week highs north of the 145.00 mark before giving away most of those gains towards the end of the day. Tokyo inflation figures are due along with weekly foreign bond investment figures and the final Coincident Index and leading economic index.

AUD/USD rallied sharply and flirted with the key 0.6900 barrier again on fresh stimulus news in China and the greenback’s oscillatory tone. Next on tap in Oz will be housing credit figures and private sector credit.

In another negative day, WTI prices fell below $67.00 a barrel to hit fresh two-week lows amid OPEC+ plans to increase oil production.

Gold prices kept their uptrend well in place and hit an all-time high near the $2,690 per troy ounce mark despite higher US yields. Silver followed suit and climbed into the $32.70 per ounce area for the first time since December 2012.