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US PCE coming up at the bottom of the hour

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Personal income and spending data to come

Personal income and spending data to come

The Fed’s preferred measure of inflation is due at the bottom of the hour and expected to show prices rising 3.9% y/y. Core PCE is forecast to rise 3.4% y/y.

The report also looks at the health of the consumer with income forecast to fall 2.5% on falling stimulus payments and spending to rise 0.4%.

The market is going to be focused on the inflation data after the +5% CPI reading in May but there’s a clear pattern of dip buying on high inflation prints. The data is due at the bottom of the hour.

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