As anticipated, US annual Core PCE inflation hit 4.7% in May(4.9% in April).

Headline inflation increased by 0.6% monthly and held close to its highest level since 1982.

CNBC confirmed that services inflation touched 4.7%, while goods inflation increased 9.6%, both up 0.1 percentage points from April.

US inflation rate in May hit 8.6%, a 40-year high; the June report is expected on the 13th of July.

After the US PCE inflation statistics were released, the USD/CAD exchange rate slightly lost some of its intraday gains.

The Fed's favored inflation indicator increased 0.3% MoM in May, according to the US Bureau of Economic Analysis.

The loonie(Canadian dollar)continued to lose value due to the steady decrease in crude oil prices, which also provided some support.

Fed increased its balance by another 2% to $8.9 trillion.

For the first time since December, American expenditure growth was less rapid than income growth.

Spending drastically decreased in May to just +0.2% MoM (less than half the anticipated +0.4%) while revenues increased by +0.5% MoM.


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