Forex Today: Market Uneasily Awaits US Inflation Data After High PPI
Enter your emailNervous markets await today’s all-important US CPI data release, which will be the key influence upon the Federal Reserve’s monetary policy.Market focus has turned to today’s scheduled release of US CPI data. Expectations have become more pessimistic after yesterday’s release of higher-than-expected US PPI data
which is usually strongly correlated with inflation. PPI was expected to rise by 0.2% month by month but in fact rose by 0.4%, and CPI is also expected to show a monthly increase of 0.2%. If CPI increases by more than 0.2%, it will likely trigger a selloff in stocks and boost the US Dollar and treasury yields.
The minutes of the most recent FOMC meeting were released yesterday. They showed that members raised their assessment of the path of rate hikes which will be required and emphasized the importance of prioritizing the fight against inflationBritish GDP data released yesterday showed a surprise month-on-month contraction of 0.3% when the rate has been expected to be unchanged.
The last time the price of this currency pair got near ¥146 the Bank of Japan successfully intervened to drive the price considerably lower, but it has been steadily trending higher ever since, suggesting the Bank will find it difficult to permanently suppress the price if it wishes to. The Bank may begin to intervene practically at any moment.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Breaking: USD/JPY teases Japan intervention on crossing 146.00 hurdle to renew 24-year highBreaking: USD/JPY teases Japan intervention on crossing 146.00 hurdle to renew 24-year high – by FXstreetNews Breaking USDJPY BOJ RiskAppetite YieldCurve
Leer más »
Forex Today: USD/JPY Jumps to 24-Year HighToday's Forex news: Yen weakness and the crisis in the UK gilts market remain the major focus of the Forex market today, with a strong US Dollar as background. Read more:
Leer más »
USD/JPY hits fresh 24-year peak, eyes 147.00 mark ahead of FOMC minutesThe USD/JPY pair scales higher through the early North American session on Wednesday and hits a new 24-year peak, around the 146.85 region in the last
Leer más »
Netflix Studios U.K. Posts $114 Million Revenue, 31% Increase Year-on-YearNetflix Studios U.K., the streamer’s U.K.-based production and content arm responsible for shows including “Bridgerton” and “Sex Education,” has posted £103.2 million …
Leer más »
24-Year-Old Receives Sage Counsel From Venerable 27-Year-OldDULUTH, MN—Generously bestowing the kind of wisdom that only comes with age, worldly and venerable 27-year-old Matthew Owen took the time last night to offer his enlightened counsel to 24-year-old family friend Dennis Paige, sources confirmed Tuesday.
Leer más »