The Beginning of the End?
- The PPI’s four month slide ended in March, with the index ticking up 0.2 percent. Goods prices rose for the first time since June, lifted higher by energy and core goods. Prices for services ticked up 0.1 percent as a rise in other services more than offset declines in trade and transportation/warehousing. The rise in domestically produced core goods and services supports the view that recent weakness has been due to transitory factors.
Pipeline Pressures Muted
- Even with March’s increase, inflation is likely to remain mild in the coming months. Input prices for goods continued to fall in March. Not only are food and energy input prices down over the past year, but prices for core processed goods fell for the seventh consecutive month and are down 2.2 percent from a year ago.
- Input prices for services are offering a little support, but at 1.0 percent, have registered their smallest 12-month gain since 2013.
Recommended Content
Editors’ Picks
EUR/USD stays below 1.0800 after upbeat US data
EUR/USD stays under bearish pressure and trades slightly below 1.0800 in the American session on Thursday. The data from the US showed that the real GDP growth for the fourth quarter got revised higher to 3.4% from 3.2%, supporting the USD and weighing on the pair.
GBP/USD stays in daily range above 1.2600
GBP/USD fluctuates in a narrow channel above 1.2600 on Thursday. The better-than-expected Initial Jobless Claims data from the US and the upward revision to the Q4 GDP growth helps the USD stay resilient against its rivals and limits the pair's upside.
Gold clings to strong daily gains above $2,200
Gold retreats from daily highs but holds comfortably above $2,200 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays above 4.2% after upbeat US data and makes it difficult for XAU/USD to preserve its bullish momentum.
XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC
XRP programmatic sales ruling by Judge Torres was completely rejected by another US Court that ruled in favor of the SEC in a lawsuit against Coinbase.
Portfolio rebalancing and reflation trades emerge into Q2
Yesterday’s price action pointed at a possible end-of-quarter portfolio rebalancing as the session saw the laggards of the quarter like Apple and Tesla gain, and the stars like Microsoft and Nvidia retreat.