Fed's Barkin: Inflation data did not increase confidence disinflation is spreading
Source Fxstreet
Richmond Federal Reserve Bank President Thomas Barkin said on Thursday that the latest inflation data did not increase his confidence that disinflation is spreading in the economy, per Reuters.
Key takeaways
"Latest inflation data looks like disinflation did at end-2023, with goods prices falling, shelter moving sideways and services increasing."
"Fed is not yet where we want to be on inflation, though headed in the right direction over a longer time frame."
Market reaction
The US Dollar preserves its strength after these comments and was last seen gaining 0.08% on the day at 105.27.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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WTI declines below $82.50 as oil inventories rise far more than expectedWest Texas Intermediate (WTI), the US crude oil benchmark, is trading around $82.45 during the early Asian trading hours on Thursday. WTI declines on a larger-than-expected build in US crude oil inventories. Traders will closely monitor the developments surrounding US-Iran talks for fresh impetus.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $82.45 during the early Asian trading hours on Thursday. WTI declines on a larger-than-expected build in US crude oil inventories. Traders will closely monitor the developments surrounding US-Iran talks for fresh impetus.
Here is what you need to know on Thursday, August 13:
WTI remains below $80.50 as traders monitor diplomatic efforts to reopen HormuzWest Texas Intermediate (WTI) oil price remains subdued for the third successive day, trading around $80.30 per barrel during the Asian hours on Friday. Crude oil prices edge lower as investors adopt a wait-and-see approach, closely monitoring diplomatic attempts to reopen the Strait of Hormuz.
West Texas Intermediate (WTI) oil price remains subdued for the third successive day, trading around $80.30 per barrel during the Asian hours on Friday. Crude oil prices edge lower as investors adopt a wait-and-see approach, closely monitoring diplomatic attempts to reopen the Strait of Hormuz.
