As the North American session begins, the US dollar is mostly higher versus the major currency pairs (but off the highs).
In the video above, I take a look at the three major currency pairs – the EURUSD, USDJPY and GBPUSD – from a technical perspective ahead of the PCE, durable goods, initial jobless claims all released at 8:30 AM
Core PCE for the month of April is expected at 3.3% YoY versus 3.2% last month. The MOM Core PCE is expected at 0.3%. Headline is expected at 0.5% MoM and 3.8% YoY Initial jobless claims are expected at 211K versus 209K last week Durable goods orders are expected at 3.5% for April versus 0.8% last month.
Ex transportation but that is 0.5% versus 0.9%. Nondefense capital expenditures Ex air is expected at 0.4% versus 3.4% preliminary The 2nd revision to the GDP for Q1 will also be released with expectation of 2.0% vs the 1st cut at 2.0%. To start the day US stocks are modestly lower with the Dow down -65 points.The S&P is down -12 points and the Nasdaq is down -110 points.