“Urgent Release of Fed’s Preferred Inflation Indicator Data: Impact on Dollar and Gold Prices”

Investing.com – My favorite gauge of inflation has now released data, which should give us an insight into pricing trends ahead.

The data just released suggests that the Fed needs to do more to bring down inflation, as rates came in higher than expected on an annual basis and slightly lower than the previous reading. While it did not decrease on a monthly basis and came as the previous reading. This indicates that prices did not decline as desired by the Fed, as rates are still far from the 2% target.

This data supports the rise of the dollar and the decline of gold, as it supports the continuation of the tightening monetary policy and raising interest rates at the next meeting. This explains why the dollar maintained its gains on the one hand, and the continuation of gold in its downward range and the lack of changes after the release of the data.

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Personal consumption expenditure data

The annualized index recorded an increase of 4.6%, while experts expected it to rise by 4.5%, while it recorded 4.7% in the previous reading. The Fed aims to drop this number to 2% only.

On a monthly basis, the index rose to 0.3%, according to experts’ expectations, after recording the same percentage last month.

As for the main index, on an annual basis, it increased by 4.2%, and it had recorded, in the last reading, an increase of 5.1%. And on the basis of a record of 0.1%, less than expectations that expected it to rise by 0.3%.

Gold and the dollar now

It fell by 0.35% at 1981 dollars an ounce.

While US gold futures fell 0.5% to 1990 dollars.

It rose by 0.65%, to record 101.9 points.