The dollar is falling against all of its major competitors Friday afternoon, after data showed that U.S. consumer price inflation was flat in January.
While the Labor Department released a report on Friday showing that U.S. consumer prices came in flat in the month of January, the report also showed a bigger than expected increase in core prices. The report said the consumer price index was unchanged in January after edging down by 0.1 percent in December. Economists had expected prices to dip by another 0.1 percent.
Excluding food and energy prices, the core consumer price index rose by 0.3 in January following a 0.2 percent increase in the previous month. Core prices had been expected to inch up by 0.1 percent.
The U.S. economy has enough momentum to withstand turmoil overseas and volatile stocks, Cleveland Fed President Loretta Mester said Friday.
"I continue to monitor developments, but until I see further evidence to the contrary, my current expectation is that the U.S. economy will work through this episode of market turbulence and the soft patch of economic data to regain its footing for moderate growth, even as the energy and manufacturing sectors remain challenged," Mester said in Sarasota, Fla.
Mester downplayed recent weakness in the stock market, noting that American consumers are still in the mood to spend.
The dollar rose to an early high of $1.1074 against the Euro Friday, but has since pulled back to around $1.1130.
Germany's producer prices declined at a faster-than-expected pace in January, figures from Destatis showed Friday. The producer price index slid 2.4 percent year-over-year in January, exceeding economists' expectations for a 2.0 percent drop.
Markets may be wrong in pricing in an interest rate hike only in 2019, latest comments from Bank of England policymakers suggest.
The central bank may raise interest rates sooner than markets currently expect, policymaker Martin Weale said in a newspaper interview published Friday.
"I would be surprised if people had to wait as long as markets are currently implying," Weale told the Irish News. "But markets may well turn out to be right."
Weale is the longest serving member on the Monetary Policy Committee and his term ends in July. He gave the interview during a visit to Northern Ireland.
The buck reached a high of $1.4244 against the pound sterling Friday, but has since retreated to around $1.4350.
UK retail sales grew more-than-expected in January, preliminary data from the Office for National Statistics showed Friday. Excluding auto fuel, retail sales increased 2.3 percent from December and 5 percent year-on-year. Economists had expected growth of 0.8 percent and 3.6 percent.
The surplus in the public sector net borrowing excluding banks came in below economists' expectations in January, figures from the ONS showed Friday. The PSNB ex-banks revealed a surplus of GBP 11.2 billion versus GBP 10.2 billion a year ago. Economists had forecast GBP 12.3 billion surplus.
British households perceived that the value of their home increased in February, with the corresponding index rising to the highest level in sixteen months, survey figures from Markit Economics and Knight Frank showed Friday.
The Knight Frank/Markit House Price Sentiment Index, or HPSI, climbed to 59.6 in February from 58.7 in the previous month.
The greenback has fallen to a 1-week low of Y112.465 against the Japanese Yen this afternoon, from around Y113.200 this morning.
Japan's all industry activity decreased for the second straight month in December, and at a faster-than-expected pace, figures from the Ministry of Economy, Trade and Industry showed Friday. The all industry activity index slid a seasonally adjusted 0.9 percent month-over-month in December, exceeding economists' expectations for a 0.3 percent drop.
Sabtu, 20 Februari 2016
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