COUNTDOWN: 24HTomorrow at 15:30 UTC+3 — July PCE, one of the key inflation indicators for the Fed.
What the market expects:
— Headline PCE (Personal Consumption Expenditures Price Index): 3.6% YoY (June: 3.7%)
— Core PCE (Core Personal Consumption Expenditures Price Index, excluding food and energy): 3.3% YoY (June: 3.3%)
— Core PCE MoM (core inflation month-over-month): +0.2% (June: +0.1%)
The key point is that the market is hardly expecting any surprises. The consensus for Core PCE is currently around 3.3%, roughly in line with the previous reading.
That’s why a strong BTC reaction is most likely if the data deviates from expectations.
