Release of personal spending data in line with expectations and gold price growth in the marketsDeltafx Admin 26 December 2022
The U.S. Personal Consumption Expenditure (PCE) index measures price changes in goods and services purchased by consumers for use, excluding food and energy. Prices are calculated based on the total cost of each item. This index measures price change from the consumer’s perspective. This report is an important tool for measuring changes in purchasing power and consumer inflation.
A higher than expected reading should be considered positive/bullish for the USD, while a lower than expected reading should be considered negative/bearish for the USD.
The Net Consumer Price Index was released at 13:30 on December 23 and came in at 0.2%, which was in line with forecasts, while the figure of the last period of this index was corrected and stabilized at the level of 0.3%.
After the publication of this index, the price of gold, which had fallen in the previous day’s trading session, was able to rise to the level of 1803 dollars by correcting the downward trend.