Uncertain Market, Investors Be Cautious Awaiting US GDP & PCE Data!

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In an uncertain market environment, the US dollar was traded mixed but still moving well as of the beginning of the week.


Investors digested current developments in the market with issues of focus such as Donald Trump's tariff warning on Canadian and Mexican imported goods.


Likewise, China and the European zone face similar risks.


In addition, attention also began to be directed to economic data published, especially in the New York session yesterday.


The United States (US) consumer confidence survey data recorded good figures as predicted, but the new home sales data in October recorded figures that declined, lower than forecast.


Early this morning, the FOMC meeting minutes report became the focus of investors to evaluate the decisions announced at the meeting in early November.


Federal Reserve (Fed) officials gave mixed views during the meeting regarding further interest rate cuts.


Fed Chairman Jerome Powell did not give a clear indication of the central bank's expectations to stop the policy easing cycle in the near future.


The current economic environment needs to be monitored through the latest data available such as inflation and employment before accurate decisions can be made.


The focus today (Wednesday) will be on the US economic growth data report for the third quarter of 2024 for the second reading and several other ancillary data.


The growth figure is forecast at 2.8%, unchanged from the initial reading published last October.


Next, will be the Fed's focus inflation component, namely the PCE price index data which measures US consumer personal spending.

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