![– US PCE inflation and Eurozone CPI data enter the spotlight [Video]](https://i.headtopics.com/images/2024/5/24/fxstreetnews/us-pce-inflation-and-eurozone-cpi-data-enter-the-us-pce-inflation-and-eurozone-cpi-data-enter-the-7002013A6E2BF7E155AC956CC42F8265.webp)
The US dollar stabilized this week, recovering a small portion of the losses it posted after the CPI data revealed that US inflation resumed its downtrend in April.
Dollar traders lock gaze on core PCE index. Eurozone CPI s in focus as June cut looms. Tokyo CPI s may complicate BoJ’s policy plans. Aussie awaits Australian CPI s and Chinese PMIs. Will PCE data break the “higher for longer” mantra? What may have allowed the dollar to stop bleeding were comments by Fed officials, suggesting that despite the slowdown in CPI inflation, they are sticking to their “higher for longer” mantra.
Euro traders may get stronger hints of where Eurozone inflation likely headed in May a couple of days earlier, when the German CPI figures are coming out. Thus, the euro may spend the better part of the week drifting south, especially against the pound, whose traders have notably scaled back their BoE rate cut bets lately.
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