The AUD/USD pair revives intraday losses and surges to near 0.6670 in Friday’s New York session after the United States (US) Bureau of Economic Analysis (BEA) published a soft Personal Consumption Expenditure Price Index (PCE) report for May.
AUD/USD recovers daily losses and jumps to 0.6670 as US core PCE Inflation declines in May. Soft US inflation figures would boost Fed rate-cut hopes. The RBA is expected to deliver more rate hikes this year. The AUD/USD pair revives intraday losses and surges to near 0.6670 in Friday’s New York session after the United States Bureau of Economic Analysis published a soft Personal Consumption Expenditure Price Index report for May.
policymakers use the annual Core PCE Price Index, which excludes volatile food and energy prices, as their primary gauge of inflation. A stronger-than-expected reading could help the USD outperform its rivals as it would hint at a possible hawkish shift in the Fed’s forward guidance and vice versa.
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