USD muted after US Core PCE and Michigan Consumer Sentiment data

3:07 PM November 24, 2021

Core PCE prices in the US which exclude food and energy rose to 0.4 % month-over-month in Octobber, following 0.2 % gain in September, in line with market expectations. Year-on-year, core PCE inflation went up to 4.1% from 3.6 % in previous month, in line with analysts’ estimates.

Personal income rose to 0.50 % MoM in October,  from -1.0% drop in September and compared to market expectations of a 0.2% increase.

Personal spending increased 1.3% from a month earlier in October, following  0.6% rise in September and compared with market consensus of a 1.0% rise.

The University of Michigan's consumer sentiment for the US was revised higher to 67.4 in October from a preliminary of 66.8 and below September’s final 71.7. 

EURUSD saw a relatively small reaction to today’s data releases. The most popular currency pair continued to trade around 1.1200 level. Source: xStation5

 

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