US PCE inflation figures have been principally consistent with estimates however there have been some indicators of slowing inflation which led to some greenback promoting. There was additionally some concern concerning the sizzling quantity within the report in mild of the upbeat Canadian and Australian knowledge this week.
The headline was 0.0% MoM however the unrounded determine was -0.0081%, thus the bottom contraction. The underlying worth rose 0.083% MoM.
Wages have been a bit larger at 0.7% however consumption at +0.2% in comparison with +0.3% and a downward revision of 0.1 proportion factors from the earlier was spectacular.
The underside line is that the greenback has fallen after which largely recovered. It appears to me that that is about proper; the Fed ought to be a bit extra optimistic, however we did get an excellent CPI report for Might, so we must always maintain that in thoughts. Now the main target might flip to US politics and the top of the month.
AUDUSD 10 minutes
