Source: Bureau of Labor Statistics US Producer Price Index ticked higher by 1.0% in June, or up 7.3% in the past 12 months, the largest yearly increase in about 10 years. SPY is up +0.072%, DXY is down -0.37% The June increase in PPI was higher than May and April’s 0.8% and 0.6% jump, respectively adding further concerns on consumer prices. June’s PPI advance was … [Read more...] about PPI Jumps by 1.0% in June to Add Further Fuel on US Inflation Concerns
Forex News
Inflation to Remain Elevated in Coming Months, Fed Chair Powell Says
Source: Federal Reserve Inflation is likely to remain elevated in the short term and hover above the 2% target due to base effects from the impact of the COVID-19 pandemic in 2020, according to Federal Reserve Chair Jerome Powell. Inflation has increased notably and will likely remain elevated and exceed 2% in the coming months before moderating.The Fed will aim inflation … [Read more...] about Inflation to Remain Elevated in Coming Months, Fed Chair Powell Says
Leading Senate Democrats Approve $3.5 trillion for U.S. Budget Reconciliation Bill
U.S. President Joe Biden’s signature project for huge new infrastructure investment received a major boost when leading Senate Democrats agreed on a $3.5 trillion plan. When announcing the agreement, Schumer stated that Republicans were not involved in the negotiation process. Only White House officials and Senate Budget Committee Democrats took part in the talks.The … [Read more...] about Leading Senate Democrats Approve $3.5 trillion for U.S. Budget Reconciliation Bill
EURUSD Outlook: US Dollar Peaks Fueled by Strong CPI data
Germany’s inflation slowed in June 2021 (MoM) to +2.3%, from a high of +2.5% realized in May 2021. In France, food prices dropped 0.7% in June 2021 (MoM). US core CPI rose in June 2021 (MoM) to 0.9%, beating consensus estimates for the fourth consecutive month. The EURUSD pair declined 0.51% as of 1:10 pm GMT on July 13, 2021, from the previous day's close. … [Read more...] about EURUSD Outlook: US Dollar Peaks Fueled by Strong CPI data
UK Monthly CPIH Rises by 0.4% in June
Source: Office for National Statistics. The consumer prices index in the UK economy including the owner occupiers’ housing costs (CPIH) for the 12 months up to to June 2021 increased by 2.4% from 2.1% in 12 months leading to May. FTSE 250 Index dips 0.64% Transport accounted for the largest upward increase to CPIH expanding by 0.80%.Monthly CPIH increased by 0.4% in June … [Read more...] about UK Monthly CPIH Rises by 0.4% in June
