US FX Handover – 29 April 2019
Matt Weller, CFA, CMT April 29, 2019 3:45 PM
See a summary of the top FX themes and trends from today's US session!
- US March Core PCE, the Fed’s preferred inflation measure, came in soft at +1.6% y/y vs 1.7% eyed. The weak inflation readings in Friday’s GDP report hinted at this miss, but the US dollar nonetheless fell against most of its major rivals on the day.
- Over the weekend, trade talks between the US and Japan made little progress, with traders already looking ahead to the potential next front in the trade war when/if the current US-China tensions are resolved.
- The euro was the strongest major currency, taking EUR/USD back into a key resistance area. The yen was the weakest major on the day.
- Gold lost a -0.5% on the day while oil (WTI) gained 0.5%.
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