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Markets Yesterday’s above-consensus US CPI numbers highlight the bumpy nature of the disinflationary process. It was reason enough for the likes of Barkin (Richmond Fed) and Mester (Cleveland Fed) to stay cautious. Both want more evidence with the latter stating that March is probably too soon for a rate cut. Goolsbee (Chicago) bluntly stated that […]

The post Dollar a Tad Softer in Uninspired Trading appeared first on Action Forex.

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09/05/2024

German Industrial Production Slide Brings Closer ECB’s Rate Cut

German industrial production continues to decline. The rate of contraction in March was slightly better than the average forecasts but maintained the downward trend. The index of industrial production fell by 0.4% in March and by 3.3% y/y, having lost in annual terms for the last ten months. German industrial production peaked at the end […]
30/08/2024

Energy Base Effects to Drive EA August Inflation Down, Focus on Services Price Momentum

In focus today We expect the euro area inflation data today to show that headline inflation eased to 2.2% y/y in August from 2.6% in July, driven by base effects on energy prices. We see underlying inflation remaining persistent due to sticky service inflation and a normalization of core goods inflation from the very low […]
03/01/2024

Dollar Loved the Combination of Higher Yields and Some Risk Aversion

Markets Core bonds started the year on the backfoot, extending the U-turn which started in the final trading week of the year following an astonishing December rally. German yields rose by 4.4 bps (10-yr) to 5.5 bps (2-yr) while US yields added 4.3 bps (30-yr) to 7.9 bps (3-yr). From a technical point of view, […]