The US consumer price index accelerated by 8.6% in May from 8.3% a month earlier. The new data exceeded expectations, rebutting hopes that US inflation is already slowing. Today’s inflation report is the last big release before the Fed meeting next Wednesday. A renewal of inflation to 40-year highs will surely attract the public’s attention […]
The post Accelerating US Inflation Weighs on Stocks, Strengthens USD appeared first on Action Forex.
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European currencies are showing subdued dynamics, entering a consolidation phase following their previous advance. Earlier, EUR/USD and GBP/USD broke out of their ranges and strengthened; however, the subsequent correction has led both pairs to retest Read more…
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