July 12, 2022
United States:
Fresh US Inflation Peak to Keep Fed on Aggressive Rate Path
Inflation continued to heat up in June, hitting a fresh pandemic peak that keeps the Federal Reserve geared for another big interest-rate hike later this month, economists project.
Europe:
Euro Buyers Fend Off Dollar Parity in Last-Gasp Defense
For now, a wall of derivatives bets is keeping the euro from hitting parity with the greenback for the first time in two decades.
Traders mounted a last-ditch push on Tuesday to stop those options contracts from triggering after the shared currency slid to within a whisker of a pure one-for-one rate. It’s a border that could quickly collapse if fresh concern over Russian natural-gas supplies or signs of a relatively more hawkish Federal Reserve drive the euro lower.
Asia:
India June Inflation Elevated At 7% on Higher Food, Fuel Prices
India’s consumer price gains ruled above the central bank’s target for a sixth straight month in June, signaling more interest rate hikes could be in store for Asia’s third-largest economy.
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