By Christopher Romano — Feb 24 - 01:25 PM
US PCE data has investors expecting Fed to maintain hawkish policy
US rates EDZ3, US$ rallied; equities ESv1, commodities HGv1 fell
USD/CNH rally above 6.9810 helped to drive broad based US$ buying
EUR/USD hit a fresh 1-1/2-month low, struck 1.0536 on EBS, was nearby late
Techs are bearish; pair fell below 200-DMA, RSIs imply downside momentum
February's monthly inverted hammer bolsters the bearish signals
US Feb. ISM mfg, non-mfg PMIs & weekly claims are data risks next week
EZ February HICP is a key data risk out of the euro zone next week
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Source:
Refinitiv IFR Research/Market Commentary