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European trading is likely to shape up as a countdown to the US PCE data release later in the day, as the market will watch for any signs to get the inflation debate started once again after a more lackluster week for the most part.
Equities and risk are steady, with Dow futures up another 0.5% after yesterday’s modest advance. This comes as Treasury yields also tick higher in anticipation of the US PCE data later today, so we’ll see how the market takes to that in US trading.
Just be mindful that it will also be a long weekend so there might be some position unwinding alongside the final actual trading day of the month. All of that put together may make things a little tricky and messy – watch out for the London fix later.
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