Source: Bureau of Labor Statistics American consumer prices grew by a 31-year high in October, with the growth broad-based recorded during the period. The Consumer Price Index for All Urban Consumers clocked in at 6.2% in October, up from 5.4% recorded in September.The latest reading is above the Fed’s target of 2% and the highest since November 2020.Inflation was highest … [Read more...] about Inflation Soars to 31-Year High in October on Surging Energy Prices
Forex News
US Jobless Claims Fall by 4,000 to Another Pandemic Low
Source: Department of Labor US jobless claims for the week that ended November 6 were 267,000, down 4,000 from the previous week. DJI is down -0.15%, DXY is up +0.20%. On a four-week moving average, the jobless claims were 278,000, a decline of 7,250 from the previous week. The claims were the lowest since March 14.Continuing claims were 2.16 million, down by 59,000 … [Read more...] about US Jobless Claims Fall by 4,000 to Another Pandemic Low
Inflation Draws Near Bank’s Target, 2% Over Medium Term, Says ECB Member
Source: CNBC. The European Central Bank is close to reaching its inflation target of 2% over the medium-term as the market participants await a new policy meeting in December. Euro Stoxx 50 down -0.15%, EUR USD down -0.14% ECB observers are projecting the central bank to develop plans on how to adjust monetary stimulus after its meeting next month.In October, ECB … [Read more...] about Inflation Draws Near Bank’s Target, 2% Over Medium Term, Says ECB Member
AUDUSD Bearish Below 0.7400 on Dollar Strength As EURUSD Slide Persists
US dollar strengthens amid interest rate hike betsAUDUSD drops below 0.7400 amid dollar strengthEURUSD struggling for a direction below 1.1600 The US dollar was on the front foot on Wednesday morning after a three-day losing streak triggered by a slide in Treasury yields. The dollar index, which measures the greenback strength against the majors, powered through the 94.00 … [Read more...] about AUDUSD Bearish Below 0.7400 on Dollar Strength As EURUSD Slide Persists
China’s Factory Prices Jump 13.5% as Inflation Reaches 26-Year High
Source: National Bureau of Statistics of China. China’s factory inflation surges to a 26-year high in October as coal prices increased amid a power crunch in the nation’s industrial zone.CSI 300 down -0.53%, CNY USD up +0.01% The producer price index (PPI) rose to 13.5% from a year earlier, faster than a 10.7% increase in September.Consumer price increases also quickened, … [Read more...] about China’s Factory Prices Jump 13.5% as Inflation Reaches 26-Year High
