5.28 PCE deflator upside also largely within expectations
This article is not intended to indicate or recommend buying or selling timing.
Please make your own investment decisions.
I viewed it as an important indicator, so although brief, I will publish my take at a different time than usual.
An article about the euro-dollar from three days ago.
This week, as you may have heard, the themes were: 1) to seek dollar buying priced in for the PCE deflator release, and 2) selling the yen.
That was the theme.
As expected, the move proceeded, and after yesterday’s large yen selling, there was a sharp reversal into substantial dollar buying, the impact being most pronounced on USD/JPY, perhaps.
It jumped from 108.5 to 110.2.
A fluctuation range of 170 pips is quite a rare move.
Now, I will just write how I interpreted the announcement and what I thought about it.
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