Is the Canadian Dollar’s Collapse the Canary in the Coal Mine for North American Markets?
On the US side, data released by the US Bureau of Economic Analysis added further support to the Greenback. The core Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve’s preferred inflation gauge, rose 0.3% MoM in June, matching forecasts and accelerating from the previous 0.2%. On a yearly basis, core PCE held steady at 2.8%, slightly above the 2.7% expected. Meanwhile, the headline PCE Price Index also climbed 0.3% MoM and 2.6% YoY, both beating expectations, pointing to sticky underlying price pressures.
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