Source: US Bureau of Labor Statistics Inflation for urban consumers posted the fastest monthly growth in 13 years in June, driven mainly by the spike in prices of used cars and trucks. VCR slips 0.29%. The Consumer Price Index for All Urban Consumers grew 0.9% from the previous month, marking the biggest monthly change since June 2008’s 1.0%. Yearly inflation stood at … [Read more...] about Inflation Soars to 13-Year High in June. Surge Seen in Used Cars and Trucks
Forex News
Market Mixed on PBOC’s Next Policy Move
Source: Bloomberg The market is mixed on the next move of the People’s Bank of China on policy rates, following the surprise reserve requirement reduction last week. UBS Asset Management Head of Fixed Income Hayden Briscoe believes the PBOC shifted to an easing cycle which has more to go after the reserve requirement cut.Briscoe said China could cut 10-year bond yields by … [Read more...] about Market Mixed on PBOC’s Next Policy Move
U.S. Inflation, Income, and Household Spending Expectations to Continue Rising
Source: Federal Reserve Bank of New York. The Federal Reserve Bank of New York’s Survey of Consumer Expectations revealed an increase in the short-term inflation expectations as medium-term inflation expectations remained unchanged. DJI gains 0.24%. The median inflation expectations increased by 0.8 percentage points in June to reach a one-year high of 4.8%. The … [Read more...] about U.S. Inflation, Income, and Household Spending Expectations to Continue Rising
US Dollar Index (DXY) Forecast Ahead of US Inflation Data
The US dollar index (DXY) was little changed on Monday as investors waited for important inflation, retail sales, and production data from the United States. The index is trading at $92.20, which is a few points below last week’s high of $92.80. US inflation ahead The US dollar index has bounced back by more than 3% after dropping to $89.50 in June. This rebound was … [Read more...] about US Dollar Index (DXY) Forecast Ahead of US Inflation Data
Coffee Prices Surge with Production Likely to Post Biggest Decline Since 2003
Source: WSJ Coffee prices across the globe have surged by double digits, with Brazilian production expected to fall to its lowest level in four years. Arabica prices hit a five-year high in July. It is the main variety produced in Brazil, which is hit by its worst drought in nearly a century.Arabica futures have grown 18% to $1.51 a pound in the last three months.Robusta … [Read more...] about Coffee Prices Surge with Production Likely to Post Biggest Decline Since 2003
