U.S. PCE inflation matches forecast, GDP cut sharply, Gareth Soloway notes

U.S. PCE inflation matches forecast, GDP cut sharply, Gareth Soloway notes
U.S. inflation meets forecast, GDP revised

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.

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