Core PCE & Federal Reserve Chair Jerome Powell: Focus of the Day

Core PCE & Federal Reserve Chair Jerome Powell: Focus of the Day

The Fed’s favourite inflation measure, the personal consumption expenditures index, is due out at 15.30 GMT+3. Analysts expect core PCE to rise 4.7% from last year and 0.3% from the prior month. Data on personal spending and personal income are also out at the same time. Analysts expect personal spending to rise 0.4% and personal income to rise 0.6%.

At 17.00 GMT+3, all eyes and ears will be on Fed Chair Powell for his speech at the Jackson Hole Symposium. It is unlikely that he will provide specifics about what the central bank policymakers are thinking. There are several more data releases that will come out before the Fed announces its next rate decision, including inflation and the August jobs report. Any hint of a movement either way, may affect the USD currency pairs.

Have your trading charts ready!

In other news, Bitcoin is consolidating ahead of Jackson Hole but still remains comfortably above the $20,000 level. ​ The correlation with Bitcoin and equities is not holding up today, but that is mainly because the move higher in equities is a story about Chinese ADRs and not a broader move for tech stocks. ​ ​

Please note: Due to Monday 29th August 2022 being a bank holiday in the UK, please note that UK100 will close early at 23:00 on Friday 26th August and is closed on Monday 29th August.

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