BlockBeats News, May 30: The U.S. Department of Commerce will announce the U.S. April Core PCE Price Index YoY at 20:30 tonight, with an expected value of 2.5% and a previous value of 2.6%.
PCE corresponds to "Personal Consumption Expenditures"; the Core PCE Price Index is a key indicator of inflation in U.S. consumer spending. It was first introduced by the U.S. Department of Commerce's Bureau of Economic Analysis and was adopted by the Federal Open Market Committee (FOMC) of the Federal Reserve as a primary measure of inflation in 2002. In January 2012, the Federal Reserve set a 2% long-term inflation target for the Core PCE YoY, signaling that the Federal Reserve now had a clear inflation target. If the Core PCE YoY exceeds 2%, the Federal Reserve will tighten monetary policy, which is beneficial for the U.S. dollar. Published Value> Expected Value = Bullish for the U.S. Dollar.
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