Shutterstock photo
Markets

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

Shutterstock photo

Shutterstock photo

Forexpros - The U.S. core personal consumption expenditure index rose broadly in line with market expectations in July, official data showed on Monday.

In a report, the Bureau of Economic Analysis said its seasonally adjusted core PCE price index rose by 0.2% in July, in line with expectations. June's figure was revised up to a 0.2% gain from a previously reported 0.1% increase.

The report showed that personal spending rose more-than-expected in July, jumping by 0.8%, beating expectations for a 0.5% gain. The previous month's figure was revised to a decline of 0.1% from a 0.2% drop.

Personal income rose by 0.3% in July, short of expectations for a 0.4% gain, after rising by 0.2% in July, whose figure was revised up from 0.1%.

Following the release of the data, the U.S. dollar was fractionally lower against the euro, with EUR/USD adding 0.02% to trade at 1.4502.

Meanwhile, U.S. equity markets added to gains following the data. The Dow Jones Industrial Average futures indicated a gain of 1.1%, S&P 500 futures jumped 1.2%, while the Nasdaq 100 futures advanced 1.2%.

Forex News

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.

Other Topics

ForEx

Latest Markets Videos