United States publish PCE Price Index and Unemployment Claims

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Source: Dukascopy Bank SA


The US Bureau of Economic Analysis has released the PCE Price Index data and the Department of Labor has published the weekly Unemployment Claims. In theory, the financial markets were set to react to the publications. Although, market reaction was muted.

Market consensus forecasts were for a month on month increase of Core PCE Price Index of 0.2% and a total of 236,000 Unemployment Claims. The PCE forecast was correct. Meanwhile, there were 228,000 new unemployment claims.

However, the Chairman of the Federal Reserve Jerome Powell has previously commented on the Core PCE Price Index during his speech at Jackson Hole, revealing that inflation had declined. Due to this reason, the official detailed publication is had decreased impact.

Meanwhile, the US weekly Unemployment Claims have not shown the capability to impact the markets unless a major difference from the economist consensus forecast is revealed to the public.
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