April 26, 2024 12:49 GMT
Greenback Initially Lower Following US Data Releases
EM FX
- Core PCE data, although slightly above estimates, has disappointed more lofty expectations in the aftermath of Thursday’s data release. As such, treasury yields are lower, and the greenback traded with a modestly offered tone on the release.
- This has been noticeable across LatAm with BRL and CLP both trading on the front foot. USDMXN has also reversed earlier gains to trade fresh session lows, aided by the impressive & larger-than-expected trade surplus in March.
- Price action further supports the South African rand, with USDZAR continuing to press lower towards 18.80 in recent trade.
- Later this afternoon, UMich consumer sentiment and inflation expectations round off the week’s data calendar.
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