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The Consumer Price Index (CPI) rose 0.2% month-on-month (m/m) in August, bang-on the consensus forecast. On a twelve-month basis, CPI fell to 2.5% (from 2.9% in July). Energy prices (-0.8% m/m) were a drag on headline inflation, with both energy commodities and energy services lower on month. Food prices remained largely subdued, rising 0.1% m/m […]

The post US: Higher Shelter Costs Drive Unexpected Gain in Core Inflation in August  appeared first on Action Forex.

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16/04/2024

Hard to Justify a Cut

A stronger-than-expected retail sales data from the US cemented the idea that the US economy remains too strong for the Federal Reserve (Fed) to cut the rates in summer. Retail sales jumped 0.7% in March on a monthly basis, more than 4% on a yearly basis, the 3 and 6-month bill auctions were weak, and […]
28/05/2024

June ECB Rate Cut a Done Deal Except in Case of a Big Shock

Markets As US and UK markets were closed yesterday, directional guidance for trading on European markets solely had to come from domestic sources. German IFO Business climate printed softer than hoped for after last week’s strong PMIs. The overall index stabilized (89.3) as better expectations were neutralized by an, albeit modest, setback in the current […]
29/11/2023

USD/JPY: Bears Consolidating for Fresh Push Through Daily Cloud Base

USDJPY bounces from new ten-week low on Wednesday, as bears faced headwinds on probe through the base of daily cloud (147.38) and from 100DMA (146.97). Fresh jump was sparked by dovish comments from BoJ policymaker, who said that it is still early to talk about exiting from negative rate policy. However, bounce is likely to […]