• The core Personal Consumption Expenditures Price Index is foreseen up 0.1% in June.
• The Federal Reserve is widely anticipated to trim interest rates in September.
• The EUR/USD pair is on the brink of turning bearish in the mid-term. 

The United States will release June Personal Consumption Expenditures (PCE) Price Index figures on Friday. The Federal Reserve’s (Fed) favourite inflation gauge will be released by the US Bureau of Economic Analysis (BEA) at 12:30 GMT.

Ahead of the announcement, the country published the preliminary estimate of the Q2 Gross Domestic Product (GDP), which largely surpassed the market’s expectations. The economy grew at an annualized pace of 2.8%, according to the flash Q2 GDP, while inflation in the same period was lower than previously estimated. The core Personal Consumption Expenditures Price Index rose 2.9% QoQ, easing from the 3.7% posted in the first quarter, yet above expectations of 2.7%. Finally, the GDP Price Index rose 2.3% in the same period, below the market expectation of 2.6%. 

Overall, the figures anticipate that price pressures continued to ease at the end of the second quarter, although inflation remains above the Federal Reserve’s goal of 2%.