American consumer inflation goes up

American consumer inflation goes up

In October, American consumer prices managed to jump by the most for 9 months against the backdrop of profits in the cost of gasoline as well as rents, thus indicating steadily soaring inflation, which will probably keep the key US bank on track to have interest rates lifted once again in December.

Although overall inflation could speed down in the months ahead after a recent dive in crude prices, market experts told that Fed officials would probably consider any retreat to be temporary and shift their attention to underlying price pressures.

The Federal Reserve that has a 2% inflation objective left interest rates intact last Thursday after a two-day policy gathering. The key US bank stressed that annual inflation measures still keeps to 2%.

On Wednesday, the Labor Department told that its Consumer Price Index tacked on by 0.3% in October, which is the biggest surge since January, having soared by 0.1% in September. For the 12 months through October, the CPI managed to rally by up to 2.5%, soaring from September's 2.3% jump.

Without the volatile energy and food, the CPI added 0.2%. Moreover, the core CPI soared by 0.1% for two months. The core CPI leapt by 2.1% for the 12 months through October having added 2.2% in September.

Financial analysts had hoped the CPI would add 0.3% and the core CPI surged by 0.2% in October.

The US currency slumped versus a number of currencies having reached a 16-month maximum earlier this week.

Since early October crude prices have lost more than a quarter of their market against the backdrop of a leap in supply and soaring worries about an economic deceleration.

The unemployment rate kept to a 49-year minimum of 3.7%, while in October annual wage surge recorded its greatest surge for 9-1/2 years.




Key Forex Event: US Inflation Rate
Key Forex Event: US Inflation Rate

The US Inflation Rate (CPI) will be announced on Wednesday, October 13, at 15:30 MT (GMT+3). Traders eagerly await this event as it will impact the USD and thus the vast majority of currency pairs in the Forex market.

NFP forecasts of 8 major banks 
NFP forecasts of 8 major banks 

The US will reveal Non-farm payrolls today at 15:30 GMT+3. Here are the forecasts of 8 major banks regarding the upcoming NFP report. The common forecast (market consensus) is 500K. What’s yours?

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Will USD Stop Falling Today? Market Wrap
Will USD Stop Falling Today? Market Wrap

The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong. 

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