This week marks two crucial days for U.S. economic data, specifically today and tomorrow. Following significant fluctuations in cryptocurrency markets, the importance of the upcoming PCE data has surged. Recently released important U.S. economic figures have heightened market attention.
Latest U.S. Data Updates
As of 16:30, key economic data have been revealed. The initial jobless claims in the U.S. were anticipated to rise to 221,000 from the previous 219,000. The second quarter GDP estimate remains consistent at 2.3%. Durable goods orders, one of the day’s critical figures, reflect new orders for durable consumer goods and serve as an indicator of economic growth and consumer demand. The prior report showed a decline of 2.2%, whereas the expectation for today’s announcement was a gain of 2%.
Core PCE Data Insights
For the core PCE, preliminary expectations stood at 2.5%, with minimal fluctuations in ongoing unemployment claims anticipated. The released data includes:
- Initial Jobless Claims: 242K (Expectation: 221K Previous: 219K)
- Second GDP Estimate: 2.3% (Expectation and Previous: 2.3%)
- Durable Goods Orders: 3.1% (Expectation: 2% Previous: -2.2%)
These orders suggest there is no significant decline in consumer demand; in fact, demand appears to be increasing, possibly due to anticipated tariff differences. While the core PCE preliminary data was expected at 2.5%, it came in at 2.7%. The actual data released tomorrow is highly significant, with BTC prices hovering around $86,000.