US data comes into focus in the second half of the week

With plenty of focus on USD/JPY, let’s not forget about what else is driving markets at the moment. The softer US PMI data earlier this week continues the debate on Fed rate cuts for the year. And we’ll have more data to add to the mix over the next few sessions. Here’s the rest of the upcoming US data releases today and tomorrow:

• US Q1 advance GDP figures (25/04)
• US weekly initial jobless claims (25/04)
• US March pending home sales (25/04)
• US March PCE price index (26/04)
• University of Michigan April final consumer sentiment, inflation expectations (26/04)

The two main ones are highlighted in bold.

The GDP report later today will also feature the GDP deflator and PCE price reading. So, those are also related to inflation and could stir up some impact in broader markets.

As for tomorrow, the PCE price index is the Fed’s preferred measure of inflation. As such, that is one to pay attention to and might offer something for traders to work with before the weekend comes along.

This article was written by Justin Low at www.forexlive.com.