USD: Breaking: US Core PCE Inflation Remains Unchanged at Forecasted 2.8%
The US Core PCE index came at 2.7% YoY in the April month and inline with march data, 0.30% MoM in the April. Core CPI came at 2.8% YoY and personal income rose by 0.30% in the April month and Personal spending rose by 0.20% in the April month. US Dollar came under bearish pressure after the data shows no improvement sign in the inflation side compared to last month.
USDCAD is moving in Ascending channel and market has reached higher low area of the channel
The US Bureau of Economic Analysis released data on Friday indicating that inflation, as measured by the Personal Consumption Expenditures (PCE) Price Index, remained unchanged at 2.7% year-on-year in April. This figure was consistent with the increase recorded in March and aligned with market expectations. Additionally, on a monthly basis, the PCE Price Index saw a 0.3% rise, as anticipated.
The Core PCE Price Index, which excludes volatile food and energy prices, also saw a year-on-year increase of 2.8%, in line with analysts’ predictions.
Further insights from the report revealed that Personal Income grew by 0.3% on a monthly basis in April, while Personal Spending saw a 0.2% increase.
USD: April PCE Inflation Holds Steady in Reported Data
In April, the US Core Personal Consumption Expenditures (PCE) index remained stable at a year-on-year rate of 2.7%, consistent with the data reported for March. On a month-over-month basis, the index increased by 0.3% in April. Similarly, the Core Consumer Price Index (CPI) stood at 2.8% year-on-year.
USD Index Market price is moving in Ascending channel and market has reached higher low area of the channel
In terms of personal finances, in April, personal income saw a rise of 0.30%, while personal spending increased by 0.20% compared to the previous month. However, despite these economic indicators, the US Dollar faced downward pressure in the market. This reaction was attributed to the lack of improvement in inflation indicators compared to the previous month.
This morning, the Bureau of Economic Analysis released the April reading of the Federal Reserve’s preferred inflation gauge, affirming a stabilization in the rate of price growth for the year 2024.
Key Highlights:
– The personal-consumption expenditures (PCE) price index increased by 0.3% month over month and 2.7% year over year in April.
– These figures were consistent with market forecasts.
– The core index, which excludes volatile food and energy prices, rose by 0.2% month over month and 2.8% year over year.
– While the monthly figure slightly undershot expectations of 0.3%, the annual figure aligned with forecasts.
USD: April PCE Inflation Holds Steady
In April, the US Core PCE index stayed the same as March at 2.7% compared to last year, and it went up by 0.3% from March. The Core CPI also stayed steady at 2.8% from a year ago. In April, personal income rose by 0.30%, and personal spending went up by 0.20% from the previous month. After this data was released, the US Dollar faced pressure because inflation didn’t show any signs of getting better compared to last month.
USDCHF is moving in Descending Triangle and market has reached support area of the pattern
In April, U.S. inflation showed little change, which is concerning for the U.S. central bank. This stagnant trend suggests that the high rate of price increases may persist longer than anticipated, raising doubts about the timing of potential interest rate cuts.
According to the Commerce Department’s report on Friday, the personal consumption expenditures (PCE) price index increased by 0.3% last month, matching the unchanged growth seen in March. On a year-on-year basis, the PCE price index rose by 2.7%, consistent with the previous month’s increase.
Economists surveyed by Reuters had predicted a 0.3% increase on a monthly basis and a 2.7% rise year-on-year for the PCE price index.
The Core PCE index, which excludes volatile food and energy prices, showed a smaller month-to-month increase of 0.2%, compared to the anticipated repeat of March’s 0.3% rise. Over the 12 months leading to April, the core index rose by 2.8%, aligning with expectations and mirroring the increase reported in the previous month.
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