Business
Dollar Trades Steady Ahead of U.S. Data
The dollar was trading steady against a basket of currencies ahead of U.S. data that could prompt markets to adjust interest-rate cut expectations.
PCE inflation data, the Federal Reserve preferred measure of inflation, and advance fourth-quarter economic growth data are both due at 8:30 a.m. Eastern time. The flash S&P purchasing managers’ survey will also be released at 9:45 a.m.
Markets are closely monitoring data as the outlook for the rate path remains unclear with the Fed’s latest meeting minutes highlighting policymakers remain divided.