CPI inflation is off its peak, but the July reading of 8.5% year-on-year was still near 40-year highs and well above the Fed's target of 2%.
What’s happeningWhat’s driving markets Yields on U.S government bonds moved lower ahead of crucial consumer and factory prices data in coming days that may determine at what pace the Federal Reserve continues to hike interest rates when it meets next week.What’s happening What’s driving markets Yields on U.
“This week’s focus will be on the August CPI data, although we do not think the results will stop the FOMC from raising rates by 75 basis points next week,” Farooqi added. But core inflation will remain stubbornly high around 6%, meaning the Fed will remain vigilant, reckoned Mark Hamrick, senior economic analyst at Bankrate.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inflation is slowing, U.S. August CPI to show, but not enough to mollify a worried FedThe rate of U.S. inflation fell in July from a 40-year high and it's on track to subside again in August, but consumer prices are still rising too rapidly to...
Read more »
GBP/USD opens with a large gap, eyes on US CPIAfter rallying to a high of 1.1648 on Friday, GBP/USD has gapped from a close of 1.1585 to 1.1640 so far as the US dollar comes under pressure from th
Read more »
USD/CHF struggles around 0.9600 on upbeat market sentiment, US CPI eyedThe USD/CHF pair is facing less-confident hurdles around 0.9600 in the early Tokyo session. The asset moved higher after a tepid opening around 0.9580
Read more »
Euro jumps amid hawkish ECB signals, dollar heavy before U.S. CPIThe euro jumped to a more than three-week peak versus the dollar on Monday and sterling rose to the highest this month as European Central Bank officials pushed the case for further aggressive monetary tightening.
Read more »
Albania blames Iran for second cyberattack since JulyAlbania blamed the Iranian government Saturday for a cyberattack against computer systems used by Albanian state police
Read more »