Excluding Fuel, Import Prices Still Falling
- The seven month slide in import prices came to a halt in February, with import prices edging up 0.4 percent. The increase stemmed from a 6.5 percent recovery in fuel prices, the largest monthly increase in more than three years.
- Excluding fuel, import prices fell 0.3 percent over the month as another 1.4 percent increase in the trade-weighted value of the dollar lowered the effective costs of overseas products.
Exporters: The Pressure Is On
- Consumer goods ex-autos was the only major nonfuel category to see import prices increase, but the 0.3 percent gain only partially reversed previous months’ cuts.
- Sluggish global growth and the sharp strengthening in the dollar are putting pressure on exporters to cut prices to remain competitive overseas. Non-food or fuel export prices fell for a sixth straight month and are 1.3 percent lower than a year ago.
Recommended Content
Editors’ Picks
EUR/USD clings to gains near 1.1100 as USD struggles to rebound
EUR/USD builds on Thursday's gains and trades in positive territory near 1.1100 in the American session on Friday. The US Dollar struggles to hold its ground despite the upbeat consumer sentiment data for September, allowing the pair to stretch higher.
GBP/USD edges higher toward 1.3150 on improving risk mood
GBP/USD edges higher toward the 1.3150 area in the second half of the day on Friday. The improving risk mood, as reflected by rising US stock indexes, makes it difficult for the USD to find demand and supports the pair heading into the weekend.
Gold climbs to new record-high above $2,580
Gold preserves its bullish momentum and trades near $2,580 after setting a new record-high slightly above this level. The 10-year US Treasury bond yield stays in the red below 3.7% as markets reassess the odds of a large Fed rate cut, helping XAU/USD push higher.
Crypto Today: WazirX exploiter moves nearly $12 million Ether to new address, Bitcoin, ETH post gains
Bitcoin trades above $58,000 at the time of writing, adding 2% to its value this week. Ethereum hovers around $2,300 as WazirX exchange exploiter moves 5,000 Ether to a new wallet address and a crypto mixer.
European Central Bank widely expected to cut interest rates in September
The European Central Bank is expected to cut key rates by 25 bps at the September policy meeting. ECB President Christine Lagarde’s presser and updated economic forecasts will be closely scrutinized for fresh policy cues.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.