For those who love detail: Breakdown of April supercore PCE
The Federal Reserve's preferred inflation measure moved in line with expectations in April.
The Bureau of Economic Analysis reported Friday that the personal consumption expenditures price index (PCE) rose 0.3% in April from the previous month, higher than expected, following increases of 0.3% and 0.3% in March and February, respectively.
The year-on-year change in the PCE price index was 2.7%. The Fed's annual inflation target is 2%.
The core PCE price index, which excludes food and energy, rose 0.2% month-on-month in April and 2.8% year-on-year.
For those who love detail: Breakdown of supercore PCE.
PCE Supercore: modestly eases to 3.429% from 3.482% previously. Housing & utilities, health care, other services & transportation services all modestly slowed. Financial services & insurance increased. Much like the topline data it reflects a modest improvement in the slowing of inflation growth.
The $USD Index(USDindex.FOREX)$ has halted is its recovery after GDP revisions and as expected PCE data.
DXY has slipped towards 104.00 as the recent highs of 105.16 acting as resistance. Bears might be regaining control again
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Great article, would you like to share it?