Friday’s US economic docket highlights the release of the April Personal Consumption Expenditure (PCE) Price Index. The headline gauge is expected to hold steady at a 6.6% YoY rate during the reported month. Core reading, however, is anticipated to have eased to 4.9% in April from 5.2% previous and rose 0.3% on a monthly basis. A high reading is positive (or Bullish) for the USD. A better figure means more rate hikes and a stronger dollar, while a weak figure implies the global economy is weakening – sending investors to the safety of the world’s reserve currency. Eren Sengezer, Editor at FXStreet, offered a brief technical outlook for the major. . . .
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