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Upcoming US PCE and ADP data seen supporting a hawkish Fed and a stronger dollar

BBH expects headline PCE to rise 0.3% month over month and stay at 3.7% year over year, while September ADP private payrolls are forecast at plus 72,000.

Reported · Written up by our desk · Major Pairs

FXStreet reports Brown Brothers Harriman’s Elias Haddad said the US dollar has eased from recent highs, helped by lower oil prices and comments from New York Fed President John Williams that have tempered rate expectations.

The note points to upcoming US August PCE and September ADP data, with BBH expecting results that show sticky inflation, stronger consumer spending, and resilient labor demand.

BBH also cites market expectations for headline PCE of 0.3% month over month versus 0.2% in July, with year over year steady at 3.7%, while September ADP private payrolls are seen at plus 72,000.

Earlier in the session, FXStreet noted AUD/USD was trading near two-month lows around 0.6950 following Australian CPI data.

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