EUR/USD
1.15558
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Gold
4431.52
1.454%
Oil
81.684
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USD/JPY
158.860
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GBP/USD
1.35327
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214.987
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Real-time News
August 12th - Data from the U.S. Department of Labor shows that U.S. electricity prices rose 4.2% in July compared to the same period last year. With many U.S. residents turning on air conditioning during the hottest month on record, higher electricity bills are expected. In recent months, electricity price increases have outpaced overall inflation, placing additional pressure on consumers energy expenditures on top of rising fuel costs.August 12th - According to CBS News, U.S. inflation slowed for the second consecutive month, rising 3.4% year-over-year in July, in line with economists expectations, indicating that some price pressures may be easing. Moodys Analytics chief economist Mark Zandi pointed out before the July CPI data release that the average daily gasoline price in July was about 10 cents lower than in June. Data from the U.S. Bureau of Labor Statistics also showed that gasoline prices fell 2.9% month-over-month in July. Zandi added that if there is no further escalation in the Iran war, inflation may have peaked and could continue to decline for the remainder of the year, potentially falling to near the Federal Reserves 2% annual inflation target by the same period next year.UBS said on August 12 that, overall, today’s US CPI report was quite close to our expectations and consistent with our previous view that US inflation peaked in May and is slowly declining, although this slowdown may be uneven.August 12th - Analyst David Uberti stated that inflation has cooled in recent months, partly due to a slight decline in gasoline prices. However, this situation is likely to change in August. Data from the U.S. Department of Labor shows that gasoline prices fell 2.9% month-over-month in July, while fuel oil prices fell 1.7%.August 12th - According to CNBC, Wednesdays CPI report showed that price increases for many goods and services slowed, potentially reducing the urgency for the Federal Reserve to raise interest rates in the near future. Data released by the U.S. Bureau of Labor Statistics showed that the Consumer Price Index (CPI) rose 0.1% month-over-month in July after seasonal adjustment. The core CPI, excluding food and energy prices, rose 0.2% month-over-month. Year-over-year, the CPI and core CPI rose 3.4% and 2.5%, respectively. Although inflation remains significantly above the Feds 2% target, the relatively modest monthly increase in July, coupled with similarly modest data in June, suggests that the energy-price-driven inflationary momentum from earlier this year is easing. However, prices remain highly volatile and vulnerable to ongoing developments in the Middle East.
