EUR/USD rises to 1.0410 after US PCE data; German HICP exceeds expectations; support at 1.0285, resistance 1.0530.
US advance wholesale inventories rose 0.7% instead of falling 0.5%, raising concerns about tariff-related stockpiling.
US inflation fell to 2.5% in January; core PCE rose 2.6%. USD strengthened against NZD by 2.46%.
US trade deficit hit $153.26 billion in January as imports surged amid tariff concerns, marking a record high.
Gold’s price drops 3% to $2,860 after tariffs; June rate cut odds rise to 71.8%.
Canada’s Q4 2024 GDP grew 2.6%, driven by household spending, exports, and investment, with wages rising moderately.
US trade deficit widens, EUR/USD stabilises, gold drops, GBP/USD holds gains; focus shifts to payrolls, ECB meeting.
US core PCE rose 2.6% annually, personal income increased 0.9%, while real personal spending declined 0.5%.
US wholesale inventories rose 0.7%, EUR/USD stabilised, gold dropped, and key economic events await.
The PCE report will reveal inflation trends, influencing Federal Reserve rate decisions, while Canada’s GDP growth is analyzed.
