The USD made new highs vs the EUR, JPY and GBP for the year today, but is seeing some corrective action ahead of the dump of data today. At 8:30 AM ET:
- PCE is expected to rise by 0.3% MoM and 2.9% YoY. The core is expected at 0.4% MoM and 3.1% YoY (vs 3.0% last month).
- Durable goods orders for January are expected at 1.2% versus -1.4% last month. Ex transportation is expected at 0.5% versus 1.0% last month. NonDef Cap goods are expected at 0.5% versus 0.8%.
- GDP 2nd revision is expected 1.4% change from the previous estimate.
In the video above, I take a look at the 3 major currency pairs from a technical perspective. With the dollar moving to ahigh, and backing off, there is risk of a failure and disappointment. What would increase the disappointment for the 3 major currency pairs is the important take away from the morning video today.
This article was written by Greg Michalowski at investinglive.com.
