Ella 
USD/CHF rebounded to around 0.9050 after finding buying interest around 0.9020 in the European session on Friday. The pair found support as the dollar gained a foothold amid cautious market sentiment.
Market sentiment turned to risk aversion amid uncertainty ahead of the US core personal consumption expenditures price index (PCE) data for April, which will be released at 12:30 GMT (20:30 Beijing time). S&P 500 futures saw some losses during the European session. The US dollar index (DXY) rebounded slightly to 104.85.
In addition to the weak appeal of US stocks, Asian stocks were also under pressure due to China’s weak National Bureau of Statistics’ May manufacturing and non-manufacturing purchasing managers’ index (PMI) that missed expectations. This raised market concerns about the outlook for the global economy.
The core PCE inflation data, the Federal Reserve’s (Fed) preferred inflation indicator, estimated a steady increase of 0.3% and 2.8% in monthly and annual inflation rates, respectively. Underlying inflation data will provide clues on whether the Federal Reserve will start reducing interest rates from current levels in September.
