Inflation accelerated 4.2% in April to mark the fastest pace in over 12 years, the Labor Department reported. The latest inflation print is the largest since September 2008's 4.9%. This compares with 2.6% in March.Month-on-month, the headline inflation grew 0.8% after the 0.6% climb in March.Core inflation rose 0.9% to mark the largest monthly increase in decades since … [Read more...] about Inflation Climbs to 12-Year High of 4.2%
Forex News
American Equity Futures Tumble As Inflation Figures Spur Concerns On Recovery
Equity futures in the United States continued their downtrend as the higher-than-expected inflation figures raised recovery concerns. Futures on three indexes extended their losses -- the S&P 500 by 0.7%, the Nasdaq 100 by 1.3%, and the Dow Jones Industrial Average by 0.4%.American consumer prices rose 4.2% year-on-year in April. Month-on-month, the headline CPI grew … [Read more...] about American Equity Futures Tumble As Inflation Figures Spur Concerns On Recovery
Sales Price of Single-Family Homes in the U.S Hits 3-Decade Growth Record of 16.2%
The medium sales price of existing single-family homes in the U.S increased at an annual rate of 16.2% to $319,000, according to NAR press release. The growth is the highest recorded since 1989. 89% of metro areas recorded double-digit increases in home prices as nearly all regions witnessed year over year price jumps in Q121.Northeast saw a 22.1% growth in sales prices of … [Read more...] about Sales Price of Single-Family Homes in the U.S Hits 3-Decade Growth Record of 16.2%
GBP/USD: Pound Edges Higher As the US Seeks to Limit Unemployment Benefits
A -2% drop in the FTSE 100 index is likely to see a rise in UK inflation above 1.2% in 2021. UK retail sales increased by 7.3% in April 2021. March 2021 saw US unemployment insurance benefits surged 37.79% to $5.36 billion. The GBP/USD edged 0.10% higher on May 11, 2021, to 1.4135 after closing 1.4120 the previous day. The economic forecast for the UK grew to 5.7% … [Read more...] about GBP/USD: Pound Edges Higher As the US Seeks to Limit Unemployment Benefits
US Dollar Index (DXY) Forecast Ahead of US Inflation Data
The US dollar index (DXY) crashed to the lowest level since February 26 after the disappointing US jobs numbers published on Friday. It is trading at $90.27, which is 3.5% below the highest point in March this year. Disappointing US jobs data On Friday, everyone was waiting for robust employment numbers from the United States. Furthermore, the economy had added more … [Read more...] about US Dollar Index (DXY) Forecast Ahead of US Inflation Data
