The most important data recently is the core PCE, its significance has already been mentioned.

The data was released as expected, with the annual rate of core PCE at 3.4%, slightly higher than the previous value, but in line with market expectations. Although inflation has increased, this data comes during a time when the conflict between the United States and Iran has not yet ended, and inflation is affected by rising oil prices.

Therefore, I personally believe that a data point of 3.4% is still acceptable. After all, in May, the average price of WTI oil was still above $90, and now? It has already fallen below $70. If I'm not mistaken, the CPI for June will begin to decline, and by July and August, overall inflation will inevitably decrease.

In this case, not to mention the issue of the Federal Reserve lowering interest rates, it is highly unlikely that there will be an interest rate hike. Even though the market is still somewhat hesitant, I believe that with the release of the CPI data in mid-July, investor sentiment will shift from the narrative of rate hikes.

At least for me, this core PCE data is not considered negative. Next, we will have to see how the market reacts.

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