FxWirePro: Forex Weekly Update

The US dollar index lost its shine after weak US PCE data. The PCE index surges 2.6% YoY in Nov, below market expectations of 2.8%. The Core PCE rose 3.2% in the same period from 3.4% in Oct. came to 4.9% for the third quarter, below the estimate of 5.2%.

US economic calendar previous week

US Philly Fed manufacturing Index - below estimate (negative for US Dollar)

US CB consumer confidence - above forecast ( Positive for the US dollar)

US GDP - below estimate (negative for the US dollar)

US durable goods orders - positive (positive for the US dollar)

According to the CME Fed watch tool, the probability of a 25 bpbs rate cut in Jan increased to 16.5% from 8.3% a week ago.