The USD/JPY posts minuscule losses following the release of the US Core Personal Consumption Expenditure (PCE) price index, the US Federal Reserve’s preferred inflation gauge.
USD/JPY dips following February's Core PCE data, indicating a gradual cooling of inflation but concerns linger. Fed officials maintain a cautious outlook on rate cuts, awaiting further evidence of sustained disinflationary trends. Market awaits insights from Fed Chair Powell and other Fed speakers. The USD/JPY posts minuscule losses following the release of the US Core Personal Consumption Expenditure price index, the US Federal Reserve’s preferred inflation gauge.
Even though the disinflationary process is evolving, the labor market is re-tightening again, following four consecutive weeks of fewer Americans filing for unemployment benefits. That can increase spending, which consequently could push prices higher. Wells Fargo analysts cited by Bloomberg noted “We really just haven’t seen that consumer fatigue that we were getting some hints of in the last month’s data, ….
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