Fed Focuses On PCE Data As Bitcoin Steadies At $34,000 By Investing.com

Bitcoin’s current standing at approximately $34,000 coincides with the Federal Reserve’s attention on Personal Consumption Expenditures (PCE) data, a key determinant in interest rate decisions. The Core PCE Price Index (Annual) has shown a slight reduction, aligning with recorded figures at 3.7%, down from the previous 3.9%.

The monthly Core PCE matched predictions at 0.3%, marking an increase from the preceding 0.1%. Meanwhile, both the annual and monthly PCE Price Indexes were reported at 3.4% and 0.4% respectively. These figures met expectations, with a minor rise in the monthly index against its forecast of 0.3%.

The Core PCE, which excludes volatile food and energy prices, serves as a stable inflation measure compared to the Consumer Price Index (CPI). This makes it the preferred choice for both the Federal Reserve and currency traders.

It is important to note that this data should not be misconstrued as direct investment advice but is instead a reflection of the current economic climate and its potential impacts on interest rates and currency trends.

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