August 10, 2023
United States:
US Core CPI Posts Smallest Back-to-Back Increases in Two Years
A key measure of US consumer prices rose only modestly for a second month, bolstering hopes that the Federal Reserve can tame inflation without sparking a recession.
The core consumer price index, which excludes often-volatile food and energy costs, rose 0.2% for a second month, Bureau of Labor Statistics data showed Thursday. That marked the smallest back-to-back gains in more than two years.
Europe:
European Gas Slumps as Rising Stockpiles Blunt LNG Strike Fears
European natural gas declined as traders weighed ever-rising stockpiles on the continent against the possibility of worker strikes in Australia that could disrupt global supplies.
Benchmark futures fell as much as 8.1%, following an earlier gain. The contract surged 28% in the previous session, the most since March 2022.
Asia:
Yen Dips to Weakest Since 2008 Against Euro, Eyes 145 Per Dollar
The yen fell to the weakest against the euro since 2008 on Thursday, extending losses after tepid US inflation data and putting traders on guard for jawboning from Japanese officials.
The currency set fresh session lows against the euro, falling as much as 0.8% to 158.96, after US consumer pricing data affirmed that the Federal Reserve could hold rates steady at its September meeting. The yen gained immediately against the greenback following the release, only to reverse course and slip 0.3% lower to 144.20. The closely watched 145 per dollar level is still in reach if losses extend. The last time it reached that mark was at the end of June.
Disclaimer:
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.