EUR/USD drops further to the 1.0540 region on Friday.
German Final GDP Growth Rate came in at 0.9% YoY.
US PCE surprised to the upside in January.
EUR/USD sees its decline accelerate to new lows near 1.0540 in the wake of the release of US PCE on Friday.
EUR/USD remains offered well below 1.0600
The selling momentum in EUR/USD gathers extra traction on the back of the unabated advance in the greenback, which lifts the USD Index (DXY) to fresh highs past the 105.00 barrier after US inflation figures tracked by the PCE came on the strong side in January.
Indeed, the pair loses further ground after the US headline PCE rose 5.4% in the year to January (from 5.3%) and the Core PCE gained 4.7% from a year earlier, both prints surpassing initial estimates.
Further data saw Personal Income expand 0.6% MoM also in January and Persona Spending increase 1.8% vs. the previous month. Later in the session, New Home Sales and the final Michigan Consumer Sentiment print will close the weekly docket across the pond.
Also next on tap appears the speeches by FOMC Governor P.Jefferson (permanent voter, centrist) and Cleveland Fed L.Mester (2024 voter, hawk).
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