Source: Bureau of Labor Statistics Import and export prices of the United States both posted double-digit annual growth in March, marking historic highs. QQQ is down 1.10%, while SPY is down 0.33%. Import prices for the month increased by 2.6% from February, marking the biggest monthly increase since April 2011.Annual import price growth was recorded at 12.5%, the biggest … [Read more...] about US Import, Export Prices Surge to Historic Highs in March
Forex News
US Retail Sales Rise by 0.5% in March as Gasoline Prices Soar
Source: Census Bureau Retail and food services sales in the US were valued at $665.7 billion in March, an increase of 0.5% from the previous month. SPY is down -0.46%, DXY is up +0.84%. The surge in retail sales in March was largely attributed to higher spending due to inflationary pressures, especially gasoline, which saw an 8.9% jump.Excluding motor vehicles and … [Read more...] about US Retail Sales Rise by 0.5% in March as Gasoline Prices Soar
ECB to Continue With Gradual Winding Down of Bond-Buying Program in Q3
Source: Financial Times The European Central Bank will push through with the gradual reduction of its bond-buying program in the third quarter, even with inflation outlook risks intensifying. EZU is down 0.33%, while VGK is down 0.31%. ECB President Christine Lagarde said upside risks to inflation have “intensified,” but this is seen to weaken if demand softens in the … [Read more...] about ECB to Continue With Gradual Winding Down of Bond-Buying Program in Q3
Jobless Claims Climb to Five-Week High
Source: US Labor Department Unemployment claims in the United States rebounded in the first full week of April, hitting the highest level in five weeks. DXY is up 0.36%, while Gold is down 0.24%. Seasonally adjusted initial claims increased by 18,000 to 185,000 from the previous week’s upward revised level of 167,000. This is the highest since March 5’s 198,000.The … [Read more...] about Jobless Claims Climb to Five-Week High
US Producer Prices Rose by a Higher 1.4% in March from February
Source: Bureau of Labor Statistics The Producer Price Index in the US gained 1.4% in March, accelerating from an increase of 0.9% in February and 1.2% in January. SPY is up +0.55%, DXY is down -0.12%. Final demand for goods led to the rise in the producer prices in March, with a gain of 2.3% in March, the same as February. Final demand services saw a gain of 0.9%.More … [Read more...] about US Producer Prices Rose by a Higher 1.4% in March from February