Personal Spending m/m comes in at 0.3% against 0.5% consensus

Personal Spending month over month in the United States registered 0.3% for the latest period, falling short of the consensus estimate of 0.5%. This figure represents a notable decrease from the prior month’s reading of 0.7%, marking a -40.0% surprise against expectations.

Following the release, market reaction in the first 15 minutes showed varied movements across USD pairs and gold. AUDUSD moved up 0.9 pips, EURUSD rose 5.2 pips, and NZDUSD gained 0.5 pips. GBPUSD dipped 0.3 pips. USDCAD was up 3.6 pips, USDCHF gained 0.3 pips, and USDJPY fell 17 pips. XAUUSD saw a gain of 7.2 pips. Compared to historical median 1-hour moves, which typically range from 7 to 29 pips for these instruments, the initial 15-minute reactions for most pairs appear relatively contained so far.