The US dollar was seen trading close the week on a mixed note. Economic data released on Friday showed that the personal consumption expenditure rose at a weaker than expected pace.
The headline PCE index rose just 0.1% on the month, below estimates of 0.2%. On a year over year basis, the PCE rose 1.3%, slightly below 1.4% that was registered the month before while the core PCE grew at the same pace of 1.4% as the previous month.
Over the weekend, the Catalonian referendum was the major event. Despite the courts calling it unconstitutional, the referendum went ahead with the results showing over 90% of the voters backing for statehood. The weekend referendumwas met with chaos and violence.
Looking ahead, the new trading week and a month, as well as the quarter,is likely to see speculators focusing on the upcoming fundamentals. In the US, the ISM’s manufacturing PMI is expected to be released this week.
Economists expect that index to fall to 58.0, down from 58.8 in August which marked a 6-year high. From the Eurozone, the services and manufacturing PMI will also be released today.
