Pay Attention To US CPI Inflation This Week

EUR/USD: Last week, US  nonfarm payroll employment increased by 428,000 in April, and the unemployment rate was unchanged at 3.6 percent, the US Bureau of Labor Statistics reported on Friday. Job growth was widespread, led by gains in leisure and hospitality, manufacturing, and in transportation and warehousing. Meanwhile, average hourly pay for workers rose 5.5 percent from a year earlier, to $31.85 from $30.20.

Last week, the Fed 50 basis point hike was the largest since 2000 as policymakers urgently tried to tamp down inflation. But Chair Jerome Powell told reporters afterward that Fed members are not actively considering 75-bp moves in the future.

Global growth concerns have boosted demand for the greenback as China shuts down cities in an attempt to stem the spread of COVID-19.

In the upcoming week, the U.S. consumer price index will release Wednesday. U.S. data is expected to show that CPI rose by an annualized 8.1% in April.

Additionally, Economists predict that PPI rose by 0.5% last month. Yearly PPI is expected to have risen by 8.9%.

Moreover, German CPI inflation will be published on Wednesday. The inflation data is expected to be 7.4%, year on year

09 May 22 (Mon)

04:05 am