BREAKING: Core US PCE Price Index  in line with forecasts

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%.

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