PCE Price Index m/m comes in at -0.1% against 0.3% consensus
| Pair | Now | Since publish |
|---|---|---|
| EURUSD | — | — |
| USDJPY | — | — |
The PCE Price Index month over month for the United States came in at -0.1%. This figure was below the consensus expectation of 0.3% and also lower than the previous month’s reading of 0.4%. The actual print represented a -133.3% surprise compared to the market consensus.
Following the release, market reactions were observed across several pairs. Fifteen minutes after the data, AUDUSD was up 0.9 pips, EURUSD was up 5.2 pips, and NZDUSD was up 0.5 pips. GBPUSD moved down 0.3 pips. USDCAD was up 3.6 pips, USDCHF was up 0.3 pips, and USDJPY was down 17 pips. XAUUSD saw a gain of 7.2 pips. These initial moves were generally smaller than the typical median 1-hour moves observed after past PCE releases. For example, EURUSD’s 5.2 pips move was less than its median 1-hour move of 11 pips, and XAUUSD’s 7.2 pips was significantly below its median 1-hour move of 29 pips.