US core PCE price index, the Fed’s favorite inflation gauge, has just been released. The print for July turned out to be in-line with expectations as prices increased 3.6% YoY (vs previously: 3.5% YoY). Markets expected a print of 3.5% YoY.
Core PCE rose 0.3 % on month-over-month basis (vs previously: 0.4% MoM). Again, in-line the consensus estimate of 0.3% MoM.
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Create account Try a demo Download mobile app Download mobile appThe US dollar remained steady against the euro. Gold prices were unchanged as well. US equity futures point to a higher opening of the cash session as major indices are posting some minor gains.
EURUSD remains steady near 1.1760 as today's inflation data did not surprise the markets. Investors await Powell's speech now. Source: xStation5
