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USD/HKD News
Forex Today: US Dollar Struggles to Find Demand as Focus Shifts to Inflation Report
The US Dollar (USD) is finding it difficult to stay resilient against its major rivals in the European morning on Wednesday.
Growing Uncertainty Seen Over USD Outlook
0629 GMT - Uncertainty over the U.S. dollar outlook has risen, especially in view of the reduced visibility on the Federal Reserve front, Benoit Anne, managing director at the Investment Solutions Gro
US Inflation Data to Show Small Step in Right Direction for Fed
Forecasters expect a monthly report on US consumer prices to show inflationary pressures moderated in April after three straight worse-than-anticipated readings to start the year.
The US PPI growth rate hit a nearly one-year high. Powell said it was “not hot, just mixed feelings”
PPI, which measures changes in prices paid by manufacturers to suppliers, rose 0.5%, much faster than the 0.1% decline in March. “I wouldn't say it's hot; I'd say it's a bit mixed,” Powell said on Tuesday. He was referring to the new overall inflation data.
US CPI Data Expected to Show Slow Progress Towards 2% Target
The high-impact US Consumer Price Index (CPI) inflation data for April will be published by the Bureau of Labor Statistics (BLS) on Wednesday at 12:30 GMT. Inflation data could alter the market’s pricing about the timing of the Federal Reserve (Fed) policy pivot, while uncertainty regarding the rate outlook grows amid policymakers’ hawkish tone and disappointing macroeconomic data releases. Hence, a surprise in CPI data could ramp up the US Dollar’s (USD) volatility.
US inflation in April may be disappointing, and the dollar may be under pressure as a result!
On May 15 at 20:30 Beijing time, the US will release the April CPI report. Market analyst Diego Colman said that after the PPI data rose on Tuesday, the upcoming April inflation data is also likely to disappoint, thereby weakening people's confidence in the deflationary trend. In his view, a moderate inflation report that falls short of Wall Street's expectations should put pressure on bond yields and the dollar, creating a favorable background for precious metals.
Goldman Sachs No. 2 warns of the US debt problem that government borrowing may be unsustainable
Goldman Sachs President John Waldron said that the US government should not be misled into believing that people's appetite for US debt is endless.
America's household debt hits a record high, and financial pressure is increasing due to inflation
The Zhitong Finance App learned that the US household debt problem is getting worse. It has set a new record and reached 17.7 trillion US dollars, an increase of 1.1% compared to the previous quarter (an increase of 184 billion US dollars). This data highlights the increasing financial pressure faced by American households against the backdrop of increasing inflation. According to the “Quarterly Report on Household Debt and Credit” released by the Federal Reserve Bank of New York on Tuesday (May 14), since the COVID-19 pandemic began, US consumer debt has increased by a total of 3.4 trillion US dollars, and interest rates on debt have also risen. Prices are rising, especially for necessities such as food and rent,
Fed's Mester: Fed Is in a Really Good Place, Not in a Rush to Change Rates
As reported by the Wall Street Journal, Federal Reserve (Fed) Bank of Cleveland President Loretta Mester noted in an interview on Tuesday that she believes the Fed is in a "really good place" regarding rates.
Traders Are Ready for Dollar to Drop After US Inflation Data
Currency traders are girding for a drop in the dollar in the wake of Wednesday’s key US inflation report.
Forex Today: Fed Rate Cut Bets and US CPI Come to the Fore
The Greenback extended the discouraging start to the week and retreated to multi-day lows as market participants digested sticky US producer prices and the neutral message from Chair Powell ahead of the release of US CPI on Wednesday.
U.S. Inflation Could Be Getting Less Sticky -- Market Talk
There are signs that U.S. inflation could be getting less sticky, Piper Sandler economists say in a note.
Powell emphasized patience to reaffirm or keep interest rates high for a longer period of time
Federal Reserve Chairman Powell says central banks need to be patient until more evidence that high interest rates are curbing inflation
Powell Reiterates Fed Likely to Keep Rates Higher for Longer
Federal Reserve Chair Jerome Powell said the US central bank must be patient and wait for evidence that inflation continues to cool, doubling down on the need to keep borrowing costs elevated for longer.
Fed's Powell Says the Bank Is in Wait-and-See Mode -- Barrons.com
Federal Reserve Chair Jerome Powell said Tuesday that he's still practicing patience regarding the trajectory of inflation and believes the central bank will need to let restrictive monetary policy do its work for longer.
Fed Chair Jerome Powell Maintains Wait-and-See Posture on Inflation and Rates -- WSJ
Federal Reserve Chair Jerome Powell affirmed the central bank's plans to hold interest rates at the highest level in more than two decades as it awaits evidence that a slowdown in inflation will resume after setbacks this year.
Powell Speech: Confidence in Inflation Moving Back Down Is Lower Than It Was
Federal Reserve Chairman Jerome Powell speaks at a moderated discussion with De Nederlandsche Bank (DNB) President Klaas Knot at the Foreign Bankers' Association's Annual General Meeting in Amsterdam.
PPI Surprises on the Upside, but CPI May Not Follow Suit
US producer price data for April surprised on the upside, suggesting that inflation pressure at the start of the inflation pipeline could be building once again.
Hot PPI Increases Odds of Delayed Fed Cut -- Market Talk
Higher-than-expected PPI increases the odds that the Fed will cut interest rates only once this year, "and likely towards the very end of the year," Clark Bellin of Bellwether Wealth says in a note.
Exceed expectations! The US core PPI in April was 2.4% year-on-year, and the market further lowered expectations for interest rate cuts
Today, the US Bureau of Labor Statistics announced the US PPI and core PPI for April. The year-on-year increase in PPI was the biggest in 12 months, and the core PPI both exceeded market expectations month-on-month and year-over-year.