MUFG’s Lee Hardman notes that the US Dollar’s (USD) rebound alongside higher Oil prices has lifted USD/JPY back towards 158.00, close to levels seen before suspected Japanese intervention.
United States Consumer Price Index (MoM) in line with forecasts (0.6%) in April
United States Consumer Price Index (YoY) above forecasts (3.7%) in April: Actual (3.8%)
United States Consumer Price Index n.s.a (MoM) rose from previous 330.21 to 333.02 in April
United States Consumer Price Index ex Food & Energy (YoY) above forecasts (2.7%) in April: Actual (2.8%)
United States Consumer Price Index ex Food & Energy (MoM) above expectations (0.3%) in April: Actual (0.4%)
United States Consumer Price Index Core s.a up to 335.423 in April from previous 334.165
Annual inflation in the United States (US), as measured by the change in the Consumer Price Index (CPI), climbed to 3.8% in April from 3.3% in March, the US Bureau of Labor Statistics (BLS) reported on Tuesday. This print surpassed the market expectation of 3.7%.
TD Securities’ FX strategists see the Euro (EUR) relatively strong on crosses, particularly versus the Pound (GBP) and Canadian Dollar (CAD).
The United States (US) reported that annualized inflation, as measured by the Consumer Price Index (CPI) rose by 3.8% in the twelve months to April, higher than the 3.3% posted in March and above expectations of 3.7%.
Indian Prime Minister Narendra Modi urged the nation’s citizens to avoid buying Gold for a year, in an effort to cut spending and save foreign exchange as the country grapples with the macroeconomic consequences of the Iran war.
GBP/USD declines around 1.3525 on Tuesday at the time of writing, down 0.62% on the day, as the US Dollar (USD) benefits from renewed demand following stronger-than-expected US inflation data and a more cautious market mood.
