Previous Trading Days Events 29 Feb 2024

The personal consumption expenditures price index PCE excluding food and energy costs increased by 0.4 for the month and 2.8 from a year ago, as expected.

PCE, including the volatile food and energy categories, increased by 0.3 monthly and 2.4 on a 12month basis, also in line.

Personal income rose 1, well above the forecast of 0.3. Spending decreased by 0.1 versus the estimate for a 0.2 gain.

Initial jobless claims totalled 215K for the week ended Feb. 24, up 13,000 from the previous period and more than the 210,000 estimate.

Source httpswww.cnbc.com20240229pceinflationjanuary2023.html

Winners vs Losers

USDCAD is still leading this week with 0.73 gains. The USD remains resilient even after the PCE report keeping USD base pairs high. New month, new performance.

News Reports Monitor Previous Trading Day 29 Feb 2024

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Midnight Night Session Asian

Australias Retail Sales report release at 230 showed growth of 1.10 but this was less than expected. No major impact was recorded at the time of the release, however, the AUD surprisingly appreciated against the USD and other currencies, soon after the release.

MorningDay Session European and N. American Session

Canadas GDP report at 1530 showed that Real gross domestic product GDP was essentially unchanged in December, following two months of growth. The market did not react heavily to the news, no special effect on CAD. However,…