Daily digest market movers: DXY shrugs off weak sentiment data on the back of hawkish bets

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  • On Tuesday, investors' attention was drawn by the Conference Board's Consumer Confidence Index. The figure slightly slipped to 100.4 from a revised 101.3 in May, indicating a somewhat tepid pace of consumer spending activity.
  • Moving to Thursday, the Gross Domestic Product (GDP) revisions for the year are expected to remain at 1.3%.
  • Friday will be a significant event as the May Personal Consumption Expenditures (PCE), a gauge of inflation favored by the Fed, is scheduled to be released.
  • Both headline and core PCE are projected to ease to 2.6% YoY, down from 2.7% and 2.8%, respectively, in April.
  • Expectations are high for a potential Fed rate cut in November, with a 70% probability of a cut happening as early as September.
  • PCE data will play a crucial role in influencing market predictions.


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