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Dear traders,
Today, at 16:30 (Kiyv), the US Department of Commerce will publish data on income and expenditure of individuals for April, as well as the basic price index of personal consumption expenditure in the US, which is the base indicator for determination of the Fed’s inflation.
- According to the consensus forecast, it is expected that the US spending index for the previous month will grow by 0.1% after an increase of 0.2% in March.
- On an annualized basis, the basic price index for personal consumption expenditure for April should grow by 1.8% against growth of 1.9% in March.
The Fed uses the cost index to determine whether it is necessary to raise or lower the interest rate. The goal is to keep inflation at 2% or lower.
>>> Investors have already fully taken into account the increase in the interest rate, which is to be held as a result of the Fed meeting on June 12-13. However, Wall Street analysts disagreed about how many times the US central bank will raise the interest rate before the end of this year.
The likelihood of three more interest rate increases before the end of this year, instead of the two planned, significantly decreased after the release of the protocol of the May meeting of the Federal Reserve on Wednesday. The words of the Fed officials were perceived by market players as statements in favor of a softer version of monetary policy. (Investing.com)
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