Quiet week ahead in the markets

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Compared to last week’s bumper slate of event risk, this week will be considerably more subdued, influenced not only by limited global asset drivers but also by liquidity thinning ahead of the long Easter weekend. The headline event for the week will be the US Core PCE data (the Fed’s preferred measure for inflation), but given that it is released on Good Friday at 12:30 pm GMT, the response to this release could be minimal. Other data this week includes US durable goods orders data for February, US consumer confidence for March, US growth GDP data for Q4 2023, and the Aussie CPI monthly indicator for February. G10 FX (five-day change): AUD/USD finds some support above the 0.6500 mark, Australian CPI data eyed. EUR/USD fell for a second consecutive week, ending Friday just above the March low of 1.0796. Gold turned south following a record-setting upsurge on Wednesday and erased the majority of its weekly gains. Litecoin price shows strength as it attempts to recover last week’s losses. Key events in developed markets and EMEA this week include the Fed's favoured measure of inflation, the core PCE deflator, and signs of weakness in real consumer spending. The macro and technical picture suggests shorting rallies in GBP/USD.

#Markets #UsCorePceData #UsDurableGoodsOrders #UsConsumerConfidence #UsGrowthGdp #AussieCpi #G10Fx #Eur/usd #Gold #Litecoin #Gbp/usd

https://www.fxstreet.com/analysis/quiet-week-ahead-in-the-markets-202403250008