Wall Street Expects High US PCE Inflation Data Today
- US Personal Consumption Expenditures (PCE) inflation is projected at 3.8% year-over-year (YoY).
- Major banks including JPMorgan, BofA, and Goldman Sachs predict a month-over-month (MoM) increase of between 0.43%-0.45%.
- Core PCE inflation estimates range from 3.3% YoY, with a MoM rise expected between 0.27%-0.30%.
- The release of the April PCE report is scheduled for May 28.
- Bitcoin’s price fluctuated between $72,659 and $76,014 amid market uncertainty.
The anticipated rise in PCE inflation comes as markets react to geopolitical tensions and rising yields in the US dollar index and Treasury bonds, impacting risk assets like Bitcoin and stocks.
With forecasts indicating a core PCE increase to 3.3%, market participants are bracing for potential further selling pressure on Bitcoin and other assets ahead of the inflation data release.
