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U.S. core PCE price index rises less-than-expected

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Forexpros - The U.S. core personal consumption expenditure index rose less-than-expected in June, official data showed on Tuesday.

In a report, the Bureau of Economic Analysis said its seasonally adjusted core PCE price index rose by 0.1% in June, disappointing expectations for a 0.2% gain.

May's figure was revised to a 0.2% gain from a previously reported 0.3% increase.

The report showed that personal spending declined unexpectedly in June, falling 0.2%, confounding expectations for a 0.2% gain. The previous month's figure was revised up to 0.1% from a flat reading.

Personal income rose by 0.1% in June, short of expectations for a 0.2% gain, after rising by 0.2% in May, whose figure was revised down from 0.3%.

Following the release of the data, the U.S. dollar was up against the euro, with EUR/USD shedding 0.54% to trade at 1.4174.

Meanwhile, U.S. equity markets added to losses following the data. The Dow Jones Industrial Average futures indicated a loss of 0.65%, S&P 500 futures pointed to a drop of 0.8%, while the Nasdaq 100 futures declined 0.65%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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