Page 12 - Us Inflation

Forex reserves at a three-month high; $11 billion added in a week

Reserves rise for 4th straight week on revaluation, likely RBI dollar purchases

Stocks on Wall Street drift as US inflation slows but not as much as hoped

Stocks are drifting on Wall Street Friday after a report showed inflation is slowing, though not quite as much as hoped. The S&P 500 was 0.2% lower in morning trading after earlier shifting between very small gains and losses. The Dow Jones Industrial Average was down 86 points, or 0.3%, at 33,695, as of 10:19 a.m. Eastern time, and the Nasdaq composite was 0.2% lower. Stocks around the world had earlier weakened after a U.S. government report showed prices getting paid at the wholesale level were 7.4% higher in November than a year earlier. That's a slowdown from October's rate of 8.1%, but it was nevertheless slightly worse than economists expected. The nation's high inflation, along with the Federal Reserve's economy-crunching response to it, have been the main reasons for Wall Street's painful tumble this year. Stocks have recovered some of their losses recently, as inflation has slowed since hitting a peak in the summer. But it remains painfully high, raising the risk that ...

US wholesale inflation eases to 7.4% in Nov; 5th straight slowdown

Wholesale prices in the United States rose 7.4 per cent in November from a year earlier, a fifth straight slowdown and a hopeful sign that inflation pressures across the economy are continuing to cool. The latest year-over-year figure was down from 8 per cent in October and from a recent peak of 11.7 per cent in March. On a monthly basis, the government said Friday that its producer price index, which measures costs before they reach consumers, rose 0.3 per cent from October to November for the third straight month. Rising prices are still straining Americans' finances, particularly for food, rent and services such as haircuts, medical care and restaurant meals. Yet several emerging trends have combined to slow inflation from the four-decade peak it reached during the summer. Gas prices have tumbled after topping out at USD 5 a gallon in June. Nationally, they averaged USD 3.33 a gallon Thursday, according to AAA, just below their average a year ago. And the supply chain snarls tha

World shares lower as strong data hit hopes for dovish Fed amid inflation

World stocks were mostly lower on Tuesday after Wall Street pulled back as surprisingly strong economic reports highlighted the challenges the Federal Reserve faces in battling inflation. Germany's DAX lost 0.2% to 14,421.84 and the CAC 40 in Paris also was down 0.2%, at 6,682.03. Britain's FTSE 100 lost 0.3% to 6,679.98. The futures for the S&P 500 and the Dow industrials were 0.1% lower. Highlighting worries over recession, Fitch Ratings revised its forecasts for world economic growth downward on Tuesday to reflect the Fed's and other central banks' interest rate hikes. The ratings agency's Global Economic Outlook report estimated global growth at 1.4% in 2023, revised down from 1.7% in its September forecast. It put U.S. growth in 2023 at 0.2%, down from 0.5%, as the pace of monetary policy tightening increases. China's growth forecast was cut to a 4.1% annual pace from 4.5%. Markets have been lifted by expectations China will press ahead with easing its stringent pandemic ...

Forex reserves rise for third week in a row; up $2.9 bn to $550.14 bn

Fall in US dollar index seen providing revaluation boost to RBI reserves

Rate hike slowdown possible in Dec, inflation fight not over: Fed's Powell

The Federal Reserve could scale back the pace of its interest rate hikes "as soon as December," Fed Chair Jerome Powell said

Hike interest rates by 25-35 basis points in Dec: Economists to RBI

The meeting was held ahead of the RBI's next monetary policy review, which is scheduled December 5-7

Crypto wrap: Bitcoin prices may fall before bouncing back, say experts

The cryptocurrency market cap remained below $850 billion in the last seven days, and on Friday, the market cap was $835 billion

Worst of rupee volatility seen over as Fed view softens: BS poll

Rupee likely at 81.68 by December-end, largely stable at 81.75 by March-end

Dollar surges as traders say markets overreacted to US inflation data

The euro fell 0.6% against the dollar to $1.0284 at 1130 GMT, after rising to a three-month high during Asian trading hours

Indian stocks cement haven status, set to extend lead over world peers

A return of foreign investors is bolstering the market, where the benchmark S&P BSE Sensex Index rose to an all-time high on Friday as risk assets rejoiced over a softer US inflation print

Sensex hits record closing high on US inflation print; Nifty ends at 18,350

Softer-than-expected retail inflation triggers global rally

Global stocks rise after lower US inflation eases interest rate hike fears

Global stock markets rose on Friday after US inflation eased more than had been expected, spurring hopes the Federal Reserve might scale down plans for more interest rate hikes. Hong Kong's benchmark surged 7.7 per cent while Tokyo and Shanghai also gained. London and Frankfurt rose in early trading. Wall Street futures were higher. Oil prices rose more than USD 2 per barrel. Wall Street's benchmark S&P 500 index rose by its biggest one-day margin in 2 1/2 years on Thursday after the government reported consumer prices rose 7.7 per cent over a year ago in October. That was lower than the 8 per cent expected by economists and the fourth month of decline. The announcement drove a more 'dovish' calibration of interest rate expectations, Yeap Jun Rong of IG said in a report. The Fed and central banks in Europe and Asia are raising rates to cool inflation that is at multi-decade highs. Investors worry that might tip the global economy into recession. They hope lower inflation might ...

Rupee slides 38 paise against dollar as traders jittery before US CPI

Over the last three days of trade, the rupee had strengthened sharply against the US dollar, climbing to one-month highs. The domestic currency was at 82.89 on November 3

Dollar slumps after CPI data suggests US Fed may ease interest rate hikes

"The CPI report has reinforced the sell-off momentum in the dollar," said MUFG currency strategist Lee Hardman

Rupee falls 17 paise to 81.64 against US dollar amid weak domestic equities

The rupee depreciated 17 paise to 81.64 against the US dollar in morning trade on Thursday, tracking weak domestic equities ahead of US inflation data. Forex traders said the focus will be on the US October CPI print scheduled to be released later on Thursday. At the interbank foreign exchange, the domestic unit opened at 81.61 against the dollar, then lost further ground to quote at 81.64, registering a loss of 17 paise over its previous close. On Wednesday, the rupee appreciated by 45 paise to close at 81.47 against the US dollar. "A poorer than-expected show by the Republicans in the midterms too is hurting sentiment. Republicans are likely to take over control of the House with a narrower margin than earlier expected and the Senate race is still wide open," IFA Global Research Academy said in a research note. It further added that Fed member Neel Kashkari said the Fed would do what it needs to do to lower inflation and that any talk of a Fed pivot is entirely premature. Meanw

Indian Rupee tipped to open tad lower ahead of US inflation data on Friday

The rupee is likely to open at 81.55-81.60, compared with 81.4350 in the previous session

US not near recession, needs more time to cool prices: US president Biden

'We're not anywhere near a recession right now, in terms of the growth,' said Biden at the White House on Wednesday

Dollar advances ahead of inflation data; cryptos crumble over FTX deal

The greenback surged overnight against its peers and held to those gains in early Asia trade, pushing the Japanese yen away from a roughly two-week high hit in the previous session

Gold prices dips as dollar gains, investors await US inflation data

Gold prices slipped on Tuesday as the dollar regained some ground, while investors braced for the U.S. inflation data later this week that could determine the Federal Reserve's future policy path