The PCE has just been released, and it is significantly below expectations
August PCE year-on-year came in at 3.4%, compared with the expected 3.7%
Core PCE year-on-year was 3.0%, compared with the expected 3.3%
The month-over-month figures were also lower than expected.
More importantly, both July PCE and core PCE were revised down significantly as well.
Just a few days ago, the market’s biggest worry was that inflation could regain control, and the probability of further rate hikes in October had been pushed down to around 70%.
But tonight’s PCE directly cools the market.
After this data is out,
pressure for a further rate hike in October continues to decline.
For <$BTC >, <美股$NVDAB >, and <黄金$XAUT >, all are broadly positive.
August PCE year-on-year came in at 3.4%, compared with the expected 3.7%
Core PCE year-on-year was 3.0%, compared with the expected 3.3%
The month-over-month figures were also lower than expected.
More importantly, both July PCE and core PCE were revised down significantly as well.
Just a few days ago, the market’s biggest worry was that inflation could regain control, and the probability of further rate hikes in October had been pushed down to around 70%.
But tonight’s PCE directly cools the market.
After this data is out,
pressure for a further rate hike in October continues to decline.
For <$BTC >, <美股$NVDAB >, and <黄金$XAUT >, all are broadly positive.