| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 06:45 | France | Consumer confidence | July | 90 | 90 | 91 |
USD traded mixed and little chased against other major currencies in the European session on Friday as investors waited for the release of the U.S. June core PCE price index - the Federal Reserve's preferred inflation gauge - later in the day.
The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, inched up 0.03% from the previous close to 104.38.
Economists predict the core PCE inflation decelerated modestly in June, to an annual rate of 2.5% from 2.6% in May. This would mark the lowest reading since March 2021 (2.3%).
If actual data match economists’ forecasts, this will justify markrets’ expectations that the Fed will deliver its first interest rate decrease at its September 17-18 meeting.
According to CME FedWatch, markets now see a 100% probability that the U.S. central bank will start its policy easing in September.