US core PCE data for April:
Annual rate 2.8, in line with expectations and previous values,
Monthly rate, 0.2, lower than expectations and previous values, in line with last week's unadjusted expectations of 0.2,
Summary: Data is slightly positive, US PCE in April is lower than the previous month, and inflation control is effective. The US PCE annual rate in April is the same as the previous value, and year-on-year inflation is under control, but there is still a lot of pressure.
Market: Data is positive, which helps short-term support. The main situation should pay attention to the subsequent US stock market opening and market interpretation content.
Powell: I still have reasons not to talk about interest rate cuts. The purpose has been achieved, but I still want to emphasize that my inflation control work has a practical effect.
