Home / Forex & Currency Exchange News / EUR/USD Rises After Core PCE Inflation Misses Expectations

EUR/USD Rises After Core PCE Inflation Misses Expectations

EUR/USD was rising today and extended its rally after core PCE inflation, the Federal Reserve’s favorite gauge of consumer price growth, missed expectations. The consumer sentiment, while close to expectations, fell. The only better-than-expected indicator was the surprisingly good Chicago PMI, but it alone was unable to help the dollar (though caused a short-lived dive for EUR/USD).

Both personal income and spending increased in August, rising by 0.2% and 0.1% respectively, in line with expectations. Both indicators rose 0.3% in July. Core PCE inflation was at 0.1% in August, the same as in July and below the median forecast of 0.2%. (Event A on the chart.)

Chicago PMI rose from 58.9 in August to 65.2 in September. That surprised analysts as they were counting on a drop to 58.6. (Event B on the chart.)

Michigan Sentiment Index fell from 96.8 in August to 95.1 in September, according to the final reading. Experts were anticipating the same 95.3 reading as in the preliminary estimate. (Event C on the chart.)

If you have any comments on the recent EUR/USD action, please reply using the form below.

Posted on Forex blog. Click Here For Original Source Of The Article

About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

Check Also

Predictive Modeling is Calling for a Continued Rally

Predictive Modeling is Calling for a Continued Rally

By TheTechnicalTraders.com We are constantly amazed that our Advanced Dynamic Learning (ADL) price modeling system has been incredibly accurate over the past 7+ months.  Our researchers, at www.TheTechnicalTraders.com, called the early 2018 rally weeks in advance.  We called the resistance levels and top in late January.  We called a February 21~27 market top formation, called the market […]

Leave a Reply

Your email address will not be published. Required fields are marked *

css.php