May 15, 2024
United States:
US Core CPI Cools for First Time in Six Months in Relief for Fed
A measure of underlying US inflation cooled in April for the first time in six months, a small step in the right direction for Federal Reserve officials looking to start cutting interest rates this year.
The so-called core consumer price index, which excludes food and energy costs, increased 0.3% from March, according to government data out Wednesday.
Europe:
Euro-Zone Soft Landing on Track But With Wider Deficit, EU Says
The euro-area economy is still headed for a soft landing, with inflation backpedaling more quickly than previously expected and growth picking up through next year, according to the European Commission.
Gross domestic product will increase by 0.8% this year and 1.4% in 2025 — almost unchanged compared with the last set of forecasts three months ago, the EU’s executive arm said Wednesday in a report. It now sees inflation slowing to 2.5% and 2.1% this year and next — down from 2.7% and 2.2% previously.
Asia:
Yen Surges Versus Dollar as CPI Shows Easing Inflation Pressures
The yen jumped more than 1% against the dollar after a reading of US consumer price growth showed softening inflation pressure.
The rally in the yen came as a Bloomberg gauge of the greenback and US Treasury yields tumbled in the session following the release of the April US CPI report. The data revealed that the so-called core measure of inflation rose 0.3% from March.
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.