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<\/p>\nUS Dollar: Hot CPI keeps Fed cautious \u2013 Danske Bank<\/p>\n
POPULAR ARTICLES<\/p>\n
Danske Research Team highlights that United States (US) Consumer Price Index (CPI) data showed strong core and services inflation, reinforcing concerns about persistent underlying price pressures. Shelter and super-core components rose, while core goods remained flat.<\/p>\n
Danske Research Team highlights that United States (US) Consumer Price Index (CPI) data showed strong core and services inflation, reinforcing concerns about persistent underlying price pressures. Shelter and super-core components rose, while core goods remained flat. They note markets will watch upcoming PPI data to see if it confirms similar momentum and keeps the Federal Reserve (Fed) cautious.<\/p>\n
Services and shelter drive CPI higher<\/p>\n
“In the US, April PPI data is due for release. Yesterday’s CPI print showed sticky monthly services and super-core inflation, reinforcing concerns around persistent underlying price pressures. Markets will watch whether PPI confirms similar price momentum.”<\/p>\n
“Headline inflation rose 0.6% m\/m SA, in line with expectations, while core inflation was stronger than expected at 0.4% m\/m SA (cons 0.3% m\/m). Shelter rose 0.6% m\/m and “super-core” (core services ex shelter) picked up to around 0.45% m\/m, the highest in three months, underlining that domestic service price pressures remain uncomfortably firm. “<\/p>\n
“By contrast, core goods inflation was flat at 0.0% m\/m, suggesting limited pass-through so far from higher commodity prices and keeping underlying pressures largely concentrated in services, reinforcing a cautious Fed.”<\/p>\n
“In US monetary policy space, the Senate confirmed Kevin Warsh to a 14-year term as Federal Reserve governor by a 51-45 vote and is expected to vote as soon as today on a concurrent four-year term as Fed chair, positioning him to succeed Jerome Powell.”<\/p>\n
“Although Powell’s term as chair formally ends on Friday, he stated last month that he will remain on the Fed board as a governor.”<\/p>\n
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)<\/p>\n
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