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U.S. core PCE price index rises in line with expectations

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Forex Pros - The U.S. core personal consumption expenditure index rose in line with expectations in January, official data showed on Monday.

In a report, the Bureau of Economic Analysis said its seasonally adjusted core CPE price index rose broadly in line with expectations, increasing by a seasonally adjusted 0.1% in January, compared to a flat reading in December.

The report also said that personal spending rose less-than-expected in January, rising by a seasonally adjusted 0.2%, after rising by 0.5% in December, whose figure was revised down from 0.7%.

Analysts had expected personal spending in the U.S. to increase by 0.4% in January.

Meanwhile, the report also showed that personal income rose unexpectedly in January, jumping by a seasonally adjusted 1.0%, after rising by 0.4% in December. Analysts had expected U.S. personal income to increase by 0.4% in January.

Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD climbing 0.61% to hit 1.3837.

Meanwhile, the outlook for U.S. equity markets was upbeat. The Dow Jones Industrial Average futures indicated a gain of 0.42%, S&P 500 futures pointed to an increase of 0.44%, while the Nasdaq 100 futures indicated a rise of 0.45%.

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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.


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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