This week, focus shifts to key U.S. economic indicators, particularly today and tomorrow. Reports like Personal Consumption Expenditures (PCE) draw significant attention.
What New Data Has Been Released?
Recent economic statistics show significant updates. Initial jobless claims are expected to rise to 221,000, up from 219,000 in the previous report. The second quarter GDP estimate remains steady at 2.3%, while durable goods orders, crucial for assessing economic growth and consumer demand, are projected to rebound by 2% after a prior decline of 2.2%.
How Is the Core PCE Performing?
The core PCE preliminary expectations were set at 2.5%, with only slight changes anticipated in ongoing unemployment claims. The recently released data reveals:
- Initial Jobless Claims: 242K (Expectation: 221K Previous: 219K) - Second GDP Estimate: 2.3% (Expectation and Previous: 2.3%) - Durable Goods Orders: 3.1% (Expectation: 2% Previous: -2.2%)
Impact of Economic Data on the Market
These figures indicate a stable consumer demand outlook, which may be influenced by expected tariff adjustments. Despite the core PCE being forecasted at 2.5%, it was reported at 2.7%. With Bitcoin prices lingering near $86,000, the impending data release holds substantial implications for market reactions.
This week, U.S. economic data draws considerable attention. Interpretations of these figures and their potential market impacts may drive dynamics in Bitcoin prices and other financial assets.
