EUR/USD continues slogging higher prior to March US core PCE

EUR/USD trades in the 1.0740s on Friday, ahead of key data out of the US in the form of the March core Personal Consumption Expenditures Price Index (PCE), the US Federal Reserve’s (Fed) preferred gauge of inflation.

The pair lost ground on Thursday after the release of the Q1 US GDP report but has since recovered and resumed its short-term uptrend.

The core PCE data, which is released by the US Bureau of Economic Analysis (BEA) at 12:30 GMT, could alter market perceptions about the timing of Fed interest-rate cuts with implications for EUR/USD.

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