Ultima Markets[Market Hotspot] Inflation Sticks to Quench Interest Rate Reduction Expectations

2024year2Monthly US Personal Consumer Expenditure Price Index（PCE）Monthly increase0.3%, amplitude lower than1Monthly revision0.4%, also less than the valuation0.4%。 Service price increase0.3%Increase in product prices0.5%。 Annual growth rate from2.4%Slightly rise to2.5%Yes2021year2The lowest level since the beginning of the month.

Meanwhile, the corePCEMonthly inflation rate (excluding food and energy), a preferred inflation indicator by the Federal Reserve, from1Monthly increase0.5%Slow down to0.3%, in line with expectations. Among them, food prices have risen0.1%Energy prices skyrocket2.3%。 Finally, the corePCEInflation annual rate from2.9%Slow descent2.8%, is approximately3The lowest level in years.

(PCEPrice index month on month%The United States Bureau of Economic Analysis)

During his speech at the Federal Reserve Bank of San Francisco, Federal Reserve Chairman Powell stated that,2OfPCEThe inflation data meets the expectations of the Federal Reserve and is a positive development. The recent data may not match last year's performance, but this will not force the Federal Reserve to urgently cut interest rates.

Patience is key, as the Federal Reserve is more willing to wait for certainty before taking action. Chairman Powell explained that although a decline in inflation is part of the main scenario, if this situation cannot be achieved, the willingness to maintain interest rates in the long term will also be on the table.

As investors digest the latest economic data, the US dollar index hit a six week high with light trading during the Holy Friday holiday104.7Falling back, falling to104.5following.

(Weekly chart of US dollar index)

Disclaimers

The comments, news, research, analysis, pricing, and other information contained in this article can only be considered as general market information and are provided solely to assist readers in understanding the market situation and do not constitute investment advice.Ultima MarketsReasonable measures have been taken to ensure the accuracy of the data, but the accuracy of the data cannot be guaranteed and can be changed at any time without notice.UltimaMarketsWe will not be responsible for any losses or losses (including but not limited to any loss of profits) that may arise from the direct or indirect use or reliance on such information.