In the past half an hour there’s been more economic releases from the US, following on from the earlier strong figures for consumer spending and growth that were out at 1:30PM (GMT). These latest data points were as follows:
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Chicago PMI: 46.3 vs 47.2 exp. 43.2 prior
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Core PCE price index M/M: +0.1% vs +0.2% exp vs 0.0% prior
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Pending home sales M/M: -1.7% vs +0.2% exp. +1.4% prior
These figures are a bit disappointing and will likely serve to take some of the shine off the earlier releases which were undoubtedly strong. The Chicago PMI rose, but increased less than expected while both of the others could be seen as negative for the US dollar and positive for bonds and precious metals.
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Gold has seen a pop higher after the latest US data releases with price recovering from its lowest level of the day at 1453. Source: xStation
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