Economic Data Week: US PCE Inflation and Fed Minutes Take Center Stage

Global markets are bracing for a high-impact week of economic data, highlighted by the release of the US Personal Consumption Expenditures (PCE) price index. As the Federal Reserve's preferred inflation gauge, the PCE data will be pivotal in shaping expectations for future interest rate adjustments. Investors will also closely analyze the minutes from the Fed's latest meeting to gauge the central bank's stance following recent robust labor market reports. Meanwhile, the Reserve Bank of New Zealand (RBNZ) is scheduled to meet, with markets anticipating a less hawkish tone than that of the RBA. Additionally, inflation figures from the UK and Japan, along with February's flash PMI readings, will provide further clarity on the global economic outlook. Any upside surprises in US inflation could bolster the USD and exert downward pressure on gold and major currency pairs.