BREAKING: US Core PCE inflation above expectations!

Core PCE prices which exclude food and energy rose 0.3 % over a month earlier in January, after 0.3 % increase in the prior month and above market expectations of a 0.1% increase . Year-on-year, core PCE prices increased 1.5 %, following a 1.5% increase in December and above analysts estimates of 1.4% increase.

US personal income rose 10 % from a month earlier in January, following  0.6 % increase in the previous month and compared with market expectations of 9.5%  increase.

Personal spending in the US rose 2.4  % MoM in January, following an upwardly revised 0.4 % drop in December and compared to market forecasts of a 2.5% increase. 

EURUSD saw a relatively small reaction to today’s data releases. The most popular currency pair continued to trade around 1.2120 level.