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U.S. PCE inflation data for both month-over-month and year-over-year periods align closely with forecasts, according to Gareth Soloway.
He points out that core PCE rose 0.3% month-over-month and 2.8% year-over-year, with the latter slightly below the expected 2.9%. Soloway also notes a significant revision in U.S. GDP for Q4, with growth cut in half to 0.7% compared to the earlier estimate of 1.5%, describing it as a sharp revision.
These latest shifts in inflation and GDP estimates come as market participants remain alert to volatility across asset classes. Similar uncertainty previously shaped Gareth Soloway’s outlook when projecting a potential move to $100 in oil prices following Iranian tanker strikes, as well as his recent assessment of bearish signals for gold and silver amid declining trends.