The Core PCE Price Index has risen to an annual level of 1.3%. This is slightly bullish for the dollar, yet inflation still remains quite subdued and this rise was within expectations.
Other figures released for June 2015 basically in line with predictions.
- The month over month rise in the core PCE Price Index came out at +0.1%: as expected and like the previous month.
- Personal spending rose 0.2% m/m as predicted and less than 0.7% seen beforehand.
- Personal income rose +0.4%, slightly better than predicted and the same as in May.
All in all, the US economy continues growing at a slow pace, as we’ve also learned from the recent GDP data. The revised Q1 data showed positive growth but Q2’s recovery was quite modest.
Will the Fed hike in September? This remains an open question.
The US data did not react too much to the figures, with markets awaiting the ISM Manufacturing PMI.
More: Where To Sell EUR/USD? – Credit Suisse, Barclays, UBS, SocGen
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