FXStreet (Edinburgh) – Senior Analyst at Danske Bank Pernille Henneberg reviews the upcoming US data.
Key Quotes
“In the US personal spending and income for May is due for release. The strong May retail sales report should be mirrored in the data on personal spending, which we expect to show an increase of 0.8% m/m. We look for an increase of 0.6% m/m in personal income as continued strong job growth is supporting household income”.
“US PCE inflation, which is the Fed’s preferred measure for inflation, should increase a bit in May. Core PCE is expected to increase 0.1% m/m in May in line with the improvement over the past couple of months. The yearly rate is expected to remain unchanged at 1.2%, which is low compared to the Fed’s 2% long-term target but it is expected to improve within the coming year”.
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