Dollar Slips as US Inflation Unexpectedly Cools
The dollar index experienced a decline, reaching 101.5 on Tuesday, following inflation data that came in weaker than anticipated. This data indicated that President Donald Trump's newly imposed tariffs have had only a modest effect. The Bureau of Labor Statistics reported that consumer price inflation slowed to 2.3% in April, marking its lowest point since February 2021 and slightly below the market's expectation of 2.4%. On a monthly basis, the Consumer Price Index (CPI) rose by 0.2%, recovering from a 0.1% drop in March, yet it fell short of the anticipated 0.3% increase. Meanwhile, core inflation maintained a steady rate of 2.8% year-over-year, continuing at its lowest point in four years. The market is also assessing the impact of a temporary tariff rollback, following a US-China agreement to lower tariffs to 30% and 10%, respectively, for a 90-day period. Treasury Secretary Scott Bessent indicated plans to engage with Chinese officials in the coming weeks to commence discussions on a comprehensive trade agreement.
The material has been provided by - RobotFX
Download NOW!
No comments:
Post a Comment