The U.S. dollar traded mixed to higher against the most major currencies ahead of the release of the U.S. economic data. The revised personal consumer expenditures (PCE) price index excluding food and energy is expected to increase 2.1% in the first quarter.
The revised U.S. GDP is expected to rise 0.9% in the first quarter, after a 1.4% growth in the fourth quarter.
The Fed Chairwoman Janet Yellen will speak at 17:15 GMT. Market participants hope for hints for further interest rate hikes.
The euro traded lower against the U.S. dollar in the absence of any major economic data from the Eurozone.
The British pound traded lower against the U.S. dollar in the absence of any major economic data from the U.K.
fk released its consumer confidence index for the U.K. on late Thursday evening. GfK’s U.K. consumer confidence index rose to -1 in May from -3 in April. 4 of 5 measures rose in May.
“Despite the tiny uptick this month, our confidence in economic matters, whether we look back or ahead 12 months, remains way below last year,” Joe Staton, Head of Market Dynamics at GfK, said.
“Is it because the Brexit gremlins are hard at work? Almost certainly yes,” he added.
EUR/USD: the currency pair declined to $1.1162
GBP/USD: the currency pair fell to $1.4619
USD/JPY: the currency pair was down to Y109.55
The most important news that are expected (GMT0):
12:30 U.S. PCE price index, q/q (Revised) Quarter I 0.3% 0.3%
12:30 U.S. PCE price index ex food, energy, q/q (Revised) Quarter I 2.1% 2.1%
12:30 U.S. GDP, q/q (Revised) Quarter I 1.4% 0.9%
14:00 U.S. Reuters/Michigan Consumer Sentiment Index (Finally) May 89 95.4
17:15 U.S. Fed Chairman Janet Yellen Speaks
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