Mumbai, 26 Feb (Commoditiescontrol): The US dollar started the week strongly on Monday in anticipation of a series of important economic data releases that could impact global interest rates. The highlight of the week will be the release of US inflation data.
Analysts closely watch the core personal consumption expenditures (PCE) price index, the Federal Reserve's favoured inflation indicator. This data, scheduled for release on Thursday, is projected to show a monthly increase of 0.4%.
Additional economic indicators on the calendar this week include inflation figures from the eurozone, Japan, and Australia. The Reserve Bank of New Zealand (RBNZ) is also expected to announce an interest rate decision, and China will release its PMI readings.
In anticipation of these major releases, the US dollar rose broadly in early Asian trading. The euro slipped 0.04% to $1.0817, and the New Zealand dollar declined by 0.55% to $0.6164.
The release of these key economic figures is likely to inject volatility into the currency markets
(By Commoditiescontrol Bureau; +91-9820130172)
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