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1:36 PM · 29 July 2022

BREAKING: USD strengthens after US data pack

Core PCE prices in the US which exclude food and energy rose 0.6% month-over-month in June, following 0.3% gain in May and above market expectations of a 0.4% rise. Year-on-year, core PCE inflation went up to 4.8% from 4.7 % from the previous month and above analysts’ estimates of 4.7%, which confirms that price pressure remains elevated.
Personal income rose 0.6% MoM in June, from 0.5% increase in May, above market expectations of a 0.5% increase.
Personal spending increased to 1.10% from a month earlier in June, following upwardly revised 0.3% rise in May and compared with market consensus of a 0.9% increase.

EURUSD broke below 1.0200 support after release of today’s data pack. Source:xStation5

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