Consumer confidence is colliding with rising prices. On Friday, we learned the personal consumption expenditure (PCE) price index was up 3.6% year-over-year in April. The core PCE price index, which excludes food and energy, was up 3.1%, the biggest jump in this index since 1992. Similar to how they reacted to the hot April consumer price index (CPI) report, economists were quick to note this increase was largely due to temporary anomalies tied.
U S consumer sentiment declined in May - Netscape Money & Business netscape.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from netscape.com Daily Mail and Mail on Sunday newspapers.
Following
5/17/2021 6:06:12 AM GMT
EUR/USD has been hovering above 1.21 and may rise on weaker inflation fears.
Europe s vaccination campaign continues at full force, underpinning the euro.
Monday s four-hour chart is showing momentum has turned to the upside.
New week, new highs? Perhaps not all euro bulls have begun the week with fresh energies, but the world s most popular currency pair has substantial reasons to rise.
1) Weaker US inflation fears
The main upside driver of the dollar has been
fear of rising US inflation, which would force the Federal Reserve to taper down its bond-buying scheme and later raise interest rates. The jump in the US Consumer Price Index (CPI) in April and leap in inflation expectations as seen in the University of Michigan s Consumer Sentiment Index figures for May. However, America is not alone.
May 17, 2021 08:09 GMTForex News
EUR/USD has been hovering above 1.21 and may rise on weaker inflation fears.
Europe’s vaccination campaign continues at full force, underpinning the euro.
Monday’s four-hour chart is showing momentum has turned to the upside.
New week, new highs? Perhaps not all euro bulls have begun the week with fresh energies, but the world’s most popular currency pair has substantial reasons to rise.
1) Weaker US inflation fears
The main upside driver of the dollar has been
fear of rising US inflation, which would force the Federal Reserve to taper down its bond-buying scheme and later raise interest rates. The jump in the US Consumer Price Index (CPI) in April and leap in inflation expectations as seen in the University of Michigan’s Consumer Consumer Sentiment Index figures for May. However, America is not alone.