Markets May US PCE deflators, the Fed preferred inflation gauge, provided a reality check yesterday as the Warsh Fed last week explicitly committed to deliver on its price stability mandate given ongoing resilience in US growth and the labour market. The PCE report was very close to expectations. The headline May PCE deflator rose by […]
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EUR/CHF recovered after briefly dipping to 0.9196 as the latest ECB Consumer Expectations Survey offered modest encouragement on inflation but ultimately reinforced expectations that the central bank’s tightening cycle is not over. While households became Read more…
Eurozone consumers turned more optimistic about inflation and the economy in May, according to the ECB’s latest Consumer Expectations Survey. One-year inflation expectations fell sharply to 3.5% from 4.0%, while expectations for inflation three and Read more…
There is a rule every first-year economics student learns, and every oil trader eventually distrusts. When supply outruns demand, prices fall. The textbook is clean. The barrel is not. Oil spent the first half of Read more…