PCE data comes in slightly lower than expected; Bitcoin holds firm at $28K

Quick Take

• U.S. Feb. Core PCE Price Index (MoM): 0.3%, [Est. 0.4%, Prev. 0.5%]
• U.S. Feb. Core PCE Price Index (YoY): 4.6%, [Est. 4.7%, Prev. 4.7%]
• U.S. Feb. Personal Spending (MoM): 0.2%, [Est. 0.3%, Prev. 2.0%]
• U.S. Feb. PCE Price Index (YoY): 5.0%, [Est. 5.1%, Prev. 5.3%]
• CryptoSlate reported that core inflation is one of the hardest metrics to bring down for central banks.
• But the U.S. data has come in lower than expected but still too hot for the feds liking; another rate hike is probable.
• This morning, Eurozone core inflation hit an all-time high of 5.7%.
• Bitcoin remains above $28,000

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