EUR/USD, DXY flows - data in line with recent macro story; ECB up next

First important batch of post FOMC data, and Sep core PCE prices comes in at the CPI-matching firm 0.3%, confirming market expectations. Personal income and spending both 0.1pp below consensus in the month, with real spending holding flat.   

Advanced Q3 GDP also confirms a healthy firm pace at 3.4% (mkt 3.2%), so enough to cement the Fed characterisation of recent growth as strong. Consumer spending held up at 3.8%, with ongoing resilient still finding cushioning from the tailwind of wealth gains in the face of price pressures, helped by declining savings. Initial claims meanwhile remain low at 194k.

Data overall very much in tune with the latest FOMC statement but with little additional impact. ECB still looming as the main next focus.