The U.S. dollar is likely to find support if traders walk away from the PCE release expecting a diminished Fed interest rate cut outlook
- The euro is up against the U.S. dollar after a round of upbeat economic data.
- Eurozone CPI and U.S. PCE inflation figures are now in focus for the markets.
- Cooling Fed rate cut bets might spook stocks and bonds as the dollar gains.
Financial markets grasped in vain for a unifying narrative as a flood of big-splash headlines began to hit the wires. Stock markets struggled for direction. A splashy earnings report from Alphabet (GOOG) cheered the tech-minded Nasdaq 100 for a bit, but that proved fleeting. The broader S&P 500 benchmark was listless for a fifth day straight.
Bond markets struggled with conflicting signals as a private sector estimate of U.S. jobs growth from Automatic Data Processing (ADP), an HR services giant, topped forecasts. It said payrolls rose by 233,000 in October, the most since…
