The Federal Reserve needs more evidence to confirm that the path to cooling inflation is unlikely to cut interest rates in the short term

This week, Federal Reserve officials received evidence that inflation continues to fall (albeit fluctuating), but policymakers are unlikely to change their positions where more evidence is needed. The Zhitong Finance App learned that government data released on Friday showed that the basic inflation index preferred by the Federal Reserve cooled down last month, and the growth rate was the slowest since this year. Additionally, consumers cut spending in April as the economy grew slower than expected in the first quarter. These reports paint a picture of a moderate economic slowdown, which is what policymakers want to see, and dispels concerns about a renewed acceleration in price growth. But officials may look for it after the next few weeks of meetings

Zhitong Finance19:00 ET

Oil prices fall as Federal Reserve officials hint they won't cut interest rates

Remarks by Federal Reserve officials about keeping interest rates stable led to a drop in oil prices. U.S. gasoline inventories increased by 2 million barrels, indicating a decline in demand. OPEC+ negotiations will extend sharp production cuts to 2025 and stabilize the market.

FX678 FinanceMay 31 06:31 ET

Eurozone CPI rebounds to 2.6% year on year in May as ECB considers cutting interest rates next week

Expectations of interest rate cuts declined further after the data was released. The Eurozone money market now prices that the ECB will cut interest rates by less than 55 basis points in 2024, while before the inflation data was released, it was about 57 basis points.

wallstreetcnMay 31 05:39 ET

Will the Federal Reserve's favorite inflation indicator reach a 3-year low?

After the CPI cooled down in April, the progress of US inflation was tested again by key data. Today at 20:30 Beijing time (8:30 a.m. EST), the US Department of Commerce will release PCE data for April. The market currently expects the overall PCE price index to rise 0.3% month-on-month in April, in line with the previous value, and is expected to remain flat at 2.7% year-on-year. The core PCE price index rose 0.3% month-on-month, in line with the previous value. The core PCE price index is expected to remain flat at 2.8% year over year. If the year-on-year increase slows slightly, then the core PCE price index will be the one since April 2021

wallstreetcnMay 31 04:23 ET

EUR/USD Remains Subdued Above 1.0800 Ahead of Eurozone, US Inflation Data

EUR/USD holds the 1.0800 support with a focus on inflation readings on both sides of the Atlantic

FXStreetMay 31 03:52 ET

EUR/USD: Fed's Favorite Index and EU Inflation Data Could Give Some Direction

Τhe single European currency remains above 1.08 levels as the exchange rate's battle to find some direction continues amid an extremely murky environment where investors shy away from taking big bets.

FXStreetMay 31 03:23 ET