{"id":42462,"date":"2023-02-24T15:24:00","date_gmt":"2023-02-24T15:24:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=42462"},"modified":"2023-02-27T13:42:25","modified_gmt":"2023-02-27T13:42:25","slug":"market-wrap-core-pce-comes-in-hot","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/market-wrap-core-pce-comes-in-hot\/","title":{"rendered":"Market Wrap &#8211; Core PCE comes in hot"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"42462\" class=\"elementor elementor-42462\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8594a5b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8594a5b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-115a7b9\" data-id=\"115a7b9\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-eb4e2ef elementor-widget elementor-widget-text-editor\" data-id=\"eb4e2ef\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The <a href=\"http:\/\/bit.ly\/3IWJy0h\" target=\"_blank\" rel=\"noopener\">VIX<\/a> jumped to nearly 5% today as risk came back on the table due a much higher than expected PCE number, setting up a possible 50-basis point hike at the next Fed meeting.<\/p><p>The US core PCE price index, the Federal Reserve\u2019s preferred gauge to measure inflation, rose by 4.7% annually, higher than 4.6% in December and surpassed market expectations of 4.3%.<\/p><p>This number was also backing signals from Fed policymakers that interest rates must be higher for longer to tame unsustainable price growth.<\/p><p>Core PCE prices in the US, which exclude food and energy, jumped by 0.6% month-over-month in January of 2023, the most since August, and above market estimates of 0.4%.<\/p><p>Also Personal income 0.6% versus 1.0% expected. Last month 0.3% revised up from 0.2%. Personal consumption real was at 1.1% versus -0.3% last month.<\/p><p>Personal consumption adjusted 1.8% versus 1.3% expected. Last month this was 0.1% versus -0.2% previously reported. Again more signs of inflation here.<\/p><p>In terms of risk trades the major averages were crushed today, with nearly 2 percent losses seen across the <a href=\"https:\/\/bit.ly\/3WlCxtz\" target=\"_blank\" rel=\"noopener\">Dow Jones Industrial Average<\/a>, the <a href=\"https:\/\/bit.ly\/3BGvYdd\" target=\"_blank\" rel=\"noopener\">Nasdaq<\/a> and <a href=\"https:\/\/bit.ly\/3WpA7u0\" target=\"_blank\" rel=\"noopener\">S&amp;P500<\/a>.<\/p><p>The other notable risk trade was the <a href=\"https:\/\/bit.ly\/3hwxqIo\" target=\"_blank\" rel=\"noopener\">US dollar<\/a> as the major and minor tumbled broadly against the buck. Commodity related currencies were also hit.<\/p><p>Other data was also release today during the US session in terms of housing data and sentiment from the US. US new home sales came in at 620,000 versus 670,000.<\/p><p>The University of Michigan Consumer Expectations subindex in the United States was revised higher to 64.7 points in February of 2023 from 62.3 points in the preliminary estimate and 62.7 in January.<\/p><p>Inflation expectations in the United States compiled by the University of Michigan stood at 2.9% in February of 2023, unchanged from the previous month and in line with preliminary estimates.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The VIX jumped to nearly 5% today as risk came back on the table due a much higher than expected PCE number, setting up a possible 50-basis point hike at the next Fed meeting. The US core PCE price index, the Federal Reserve\u2019s preferred gauge to measure inflation, rose by 4.7% annually, higher than 4.6% [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":42464,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[257,42,27,67,449,279],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Market Wrap - Core PCE comes in hot - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/market-wrap-core-pce-comes-in-hot\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Wrap - Core PCE comes in hot Market Wrap - Core PCE comes in hot\" \/>\n<meta property=\"og:description\" content=\"The VIX jumped to nearly 5% today as risk came back on the table due a much higher than expected PCE number, setting up a possible 50-basis point hike at the next Fed meeting.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/market-wrap-core-pce-comes-in-hot\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-24T15:24:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-27T13:42:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/02\/GettyImages-1451822889.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"758\" \/>\n\t<meta property=\"og:image:height\" content=\"432\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Market Wrap - Core PCE comes in hot Market Wrap - Core PCE comes in hot\" \/>\n<meta name=\"twitter:description\" content=\"The VIX jumped to nearly 5% today as risk came back on the table due a much higher than expected PCE number, setting up a possible 50-basis point hike at the next Fed meeting.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/market-wrap-core-pce-comes-in-hot\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/market-wrap-core-pce-comes-in-hot\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Market Wrap &#8211; 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