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29 Apr 2013
Forex Flash: US Personal Spending in focus today - BTMU
FXstreet.com (Barcelona) - Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that the release of the US personal spending report for March will be in focus today.
He sees that it is expected to reveal that spending growth stalled after a robust 0.7% gain in February. He writes, “The flash Q1 GDP report revealed the consumption expanded by a firm 3.2% in Q1. The PCE deflator may also generate greater market attention following recent comments from Fed officials displaying concern over low inflation, which is expected to decelerate to an annual rate of just 1.0% in March which may weigh upon the US dollar by encouraging speculation of expanded Fed QE.”
He sees that it is expected to reveal that spending growth stalled after a robust 0.7% gain in February. He writes, “The flash Q1 GDP report revealed the consumption expanded by a firm 3.2% in Q1. The PCE deflator may also generate greater market attention following recent comments from Fed officials displaying concern over low inflation, which is expected to decelerate to an annual rate of just 1.0% in March which may weigh upon the US dollar by encouraging speculation of expanded Fed QE.”