Market updates on August 22
News is what making the risk sentiment fragile today...
American import prices tack on more than anticipated in February
In February, American import prices tacked on more than anticipated because the largest jump in the cost of capital goods since 2008 compensated a sag in petroleum prices, backing views that inflation is going to pick up in 2018.
On Thursday, the Labor Department told that import prices rallied 0.4% the previous month after a downwardly updated 0.8% leap in January. Market experts surveyed by Reuters had predicted import prices soaring 0.2% in February after a previously posted 1% rally in January.
As a matter of fact, in the 12 months through February, having soared 3.4% for 12 months through January, import prices inched up 3.5%.
This week’s data demonstrated firm revenues in consumer as well as producer prices in January. Market experts expect inflation is going to speed up in 2018, powered by a tightening labor market, a weakening greenback as well as fiscal stimulus. By the way, inflation has managed to undershoot the Fed’s 2% objective since mid-2012.
In February, prices for imported capital goods tacked on 0.6%. It happened to be the biggest leap since April 2008 and it followed an intact outcome in January.
Prices of imported consumer goods without cars inched up 0.5%, which is the largest revenue since January 2014, having soared 0.1% in February. These price leaps probably reflected the greenback’s depreciation versus the currencies of America’s key trading partners.
These higher prices are going to filter through to consumer as well as core producer inflation. Imported petroleum prices went down 0.5%, which is the first sag for seven months, having soared 3% in January. Import prices without petroleum tacked on 0.5% after a similar jump in January.
The report also disclosed that export prices inched up 0.2% the previous month having surged 0.8% in January.
Similar
Market updates on August 21
Oil updates and the FOMC minutes are on the agenda
Market updates on August 20
Pay attention to the news from the UK and Italy
Latest news
Crypto assets decline as OECD demands global ICO regulation
On Monday, crypto assets tumbled due to the fact that the Organization for Economic Cooperation and Development drew attention to the necessity of the global regulation of initial coin offerings…
German exporters don’t care about stronger euro
German exporters demonstrate ascending optimism as for their business prospects because growing demand from other euro zone countries helps to compensate worries regarding the strengthening currency, as the Ifo economic institute told on Wednesday…
Japan's October machinery orders tack on
In October, Japanese machinery orders rebounded with a faster soar than anticipated, thus re-affirming the resilience of capital spending, which is a major driver in the Japanese economy's almost two-year expansion…
Deposit with your local payment systems
