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US PCE and pending home sales data in focus - TD Securities

FXStreet (Łódź) - Tim Davis, Vice President, Global Strategist at TD Securities suggests that the US personal income and spending report as well as the pending home sales numbers release will attract market attention later today.

Key quotes

"Income is likely to rise 0.4% m/m as spending increases 0.5% m/m."

"Core PCE will be closely watched as we expect a flat m/m print to bring inflation to 1.4% y/y from 1.5% y/y, keeping the market’s rate hike expectations at bay."

"August pending home sales will also be closely watched for an indication of September housing market momentum, and we look for improvement to continue with a 0.7% m/m increase."

"On the speaker circuit, Fed’s Evans (dove, non-voter) will make remarks on the economy and monetary policy."

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