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US Dollar Gets a Small Bid on PCE Release, Employment Costs Rise

US Dollar Gets a Small Bid on PCE Release, Employment Costs Rise

Nick Cawley, Senior Strategist

US Dollar Price, Chart, and Analysis

  • Annual PCE rises to 4.4% from 4.2%.
  • Employment cost data highlights wage pressures.

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The September Personal Consumption (PCE) price index, the Federal Reserve’s favored inflation measure, showed price pressures in the US remained fairly constant. Core PCE m/m met expectations of 0.2% compared to 0.3% last month, the y/y core was unchanged compared to last month at 3.6%, while headline PCE y/y rose to 4.4% from a revised 4.2% in August. In other data released today, personal income m/m fell while employment costs rose q/q in Q3.

The data gave the US dollar a small bd on increase inflationary fears but traders will now start looking ahead to next week’s Federal Reserve meeting and the latest look at the US job market at the end of the week.

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US Dollar (DXY)5 Minute Chart October 29, 2021

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What is your view on the US Dollar – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.