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BREAKING: USD weakens slightly after US data pack

  • Core PCE prices in the US which exclude food and energy rose 0.6% month-over-month in August, following 0.1% gain in July and above market expectations of a 0.5% rise. Year-on-year, core PCE inflation went up to  4.9% from 4.6 % in previous month and above analysts’ estimates of 4.7%.
  • The personal consumption expenditure price index decreased to 6.2% year-on-year in August, slowing from 6.2% in July, above market estimates of 6.0%.
  • Personal income rose 0.3% MoM in August,  from 0.2% increase in July and in line with market expectations.
  • Personal spending increased 0.4% from a month earlier in August, following  0.1% rise in July and above market consensus of a 0.2% increase.

EURUSD saw relatively small reaction to today’s data releases. The most popular currency pair continued to trade above local support at 0.9750 level. Source: xStation5

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