The WSJ Timiraos in his X tweets, speculates that the core PCE data from the GDP which came in higher at 2.9% vs 2.7% expected, does not imply the core PCE for June to be released on Friday will be different than the 0.18% gains expected.
However, to square to the higher 2.9% data from the GDP, it implies revisions higher in the April and May (which came in at 0.26% and 0.08% respectively).
At the end of the day, it was higher than what the math was expecting.
This article was written by Greg Michalowski at www.forexlive.com.
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