We are approaching the key macro of the week – the month-on-month US PCE price index – an indicator that the Fed says is the main measure of inflation in the US economy.
Market sentiment indicator state RiskOn from last week’s run has moved into Neutral territory and in the absence of any major positive momentum the market has seen a 2.5% decline from last week’s ATH.
As always with fundamental macro data, today’s PCE has the potential to send the market either way and swing sentiment in the same way. Be on alert at 2:30 PM CET / 8:30 AM EDT.
Have fun!
