Dollar rebounds generally in early US after strong personal spending data in March, which is the best growth in nearly a decade. Core PCE inflation slowed in both February and March, steadily. But at least, there was no steep deterioration in core inflation.
While Dollar rebounds, it’s largely held in range against others, like in USD/JPY. It’s just in another leg of consolidations.
In March, US personal income rose 0.1% mom, or USD 11.4B, much lower than expectations of 0.4% mom. Personal spending rose 0.9%, or USD 123.5B, higher than expectation of 0.7% mom. Headline PCE was unchanged at 1.5% yoy while core PCE slowed from 1.7% yoy to 1.6% yoy.
In February, personal income rose 0.2% mom or USD 35.6B. Personal spending rose 0.1% mom or 11.7B. Headline PCE accelerated from 1.4% yoy to 1.6% yoy. Core PCE slowed from 1.8% yoy to 1.7% yoy.
