By Jeremy Boulton — Feb 24 - 05:45 AM
EUR/USD sinks to 1.0577 lowest since 1.0482 Jan 6 (2023 low)
Expectations for robust U.S. data at 13.30GMT influencing traders
U.S. personal income seen rising 1% mm in Jan (f/c range 0.3-1.7%)
If f/c met will be biggest rise in income since July 2021
Consumption eyed 1.3% mm - highest since Jan 2022
Consumer spending accounts for more than 2/3 U.S. economic activity
Core PCE seen 4.3% yy from 4.4% - far above Fed's target (range 4.2-4.5%)
Friday's data might drive EUR/USD to base future ranges nL1N3540N6
Source:
Refinitiv IFR Research/Market Commentary