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CommSec’s Tom Piotrowski says the core measure of the United States’ PCE deflator moderated from 5.2 to 5 per cent over the last month – allowing markets to consolidate on the recent fall in long-term interest rates.
“It was an interesting session for Northern Hemisphere markets, particularly where the US was concerned,” he told Sky News Australia.
“We saw the release of a measure of inflation that the US Federal Reserve looks at really carefully, it’s tied to what US workers earned and spent over the course of last month and importantly it was within the market’s expectations.
“Equally important, it showed the moderation over the course of the last month.”
Presented by CommSec.
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