US PCE Price Index went fell to 0.4% MoM in May, from a 0.6% increase in April and below analysts expectation of 0.5%. Year-on-year, the PCE price index advanced 3.9 % from 3.6% in the previous month and in line with analysts’ estimates of 3.9%.
The core PCE price index, which excludes volatile items such as food and energy and is the Federal Reserve's favorite inflation indicator, fell to 0.5% over a month earlier in May, after 0.7% advance in April and below market expectations of 0.6%. Year-on-year, core PCE prices increased to 3.4 % in May from 3.1% in April, in line with market consensus of 3.4%.
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PCE Price Index continued to move higher in May. Source: Macrobond, XTB
EURUSD rose after today's data releases and is heading towards resistance level at 1.1988. Source:xStation5
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