- Personal Income and Personal Spending both expanded in US in July.
- US Dollar Index extends sideways grind around 93.00 ahead of Jackson Hole Symposium.
The US Bureau of Economic Analysis (BEA) reported on Friday that Personal Income expanded by 1.1% in July. This reading came in better than the market expectation of 0.2%.
Further details of the report revealed that Personal Spending, which increased by 1.1% in June, rose by 0.3% in the same period, compared to analysts' estimate of 0.5%.
Market reaction
These figures don't seem to be having a meaningful impact on the USD's performance against its major rivals. As of writing, the US Dollar Index was down 0.05% on the day at 92.99.