Within this article, we explore the technical outlook for EUR/USD and GBP/USD, identifying significant price thresholds that may play roles as support or resistance ahead of Powell’s on Friday.

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The Japanese Yen has been strengthened by expectations that the Bank of Japan could tighten its ultra-loose monetary policy. However, these may have been premature

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US PCE data continued the recent trend of softening data from the US. The PCE print is likely to add to expectations for rate cuts in 2024 heading into the December FOMC meeting.

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Gold prices take a breather after having risen sharply in response to a weaker dollar and softer US yields after Fed Governor Waller provided a timeline for rate cuts. PCE Next

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Price pressures in the Euro Area are dropping sharply and this may give the ECB further flexibility to cut interest rates earlier next year.

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