The core PCE index in the United States increased by 2.8% year-on-year in March

On the data front, the latest data released by the US Department of Commerce on Friday showed that the core PCE index in March, excluding volatile food and energy prices, increased by 0.3% month on month and 2.8% year-on-year. Analysis suggests that as the preferred inflation target of the Federal Reserve, this data indicates that there is almost no sign of a slowdown in inflation in March, exacerbating concerns about price pressure. However, it is unlikely to change market expectations that the Federal Reserve will not cut interest rates before September. The Federal Reserve will hold a monetary policy meeting next week, and the market expects the Fed to likely maintain interest rates unchanged.

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