Daily digest market movers: US Dollar on shaky ground with mixed PCE data
- The annual core PCE, excluding volatile food and energy items, revealed a steady growth of 2.6%, contradicting economists' prediction of deceleration at 2.5%.
- The monthly core PCE inflation, the Fed's favored inflation tool, rose beyond the former and expected data of 0.1% to reach 0.2%.
- Though this higher growth pace is considered consistent, it falls short of dampening expectations that the Federal Reserve will roll out reduced interest rates by the September meeting, projecting two cuts this year.
- Next week’s Federal Open Market Committee (FOMC) will provide markets with additional guidance on the bank’s stance.
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