Daily Alert – Friday 29th March 2024: US GDP and PCE looking good

Mark NugentDaily Alert, March 2024

Daily Alert – Friday 29th March 2024: US GDP and PCE looking good

Happy Easter.

Yesterday, US GDP impressed, coming in at 3.4% against an expectation of 3.2%. Today, the Fed’s chosen measure of inflation, Core PCE, came in at the expected year-by-year figure of 2.8% and less than the prior number of 2.9%.

So, despite the caution from some Fed members, there’s nothing here to derail the forecast of three 25-basis-point cuts this year.

Risk sentiment has been indecisive all week. It’s quiet.

Have a great weekend. Monday is a holiday, so I’ll be back on Tuesday.

VIP Club members can see today’s video, all brief trading videos, the Monthly and YTD Performance videos, the Trading Video Course and download the MTM Indicators software HERE