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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US INFLATION
Today's Import Price index readings for May (0830ET) will be the final major input into PCE inflation for the month. The key ex-petroleum measure is seen cooling to +0.2% M/M (0.7% prior), though rising to 1.3% Y/Y from 1.1% prior.
- April's M/M figure was the highest since December 2022 and was 0.6pp well above the 0.1% expected, suggesting that the deflationary headwinds from core goods was waning in part alongside the waning marginal benefit of improved global supply chains.
- The Fed's watching this more closely than we might have expected - Powell on Wednesday, when asked where the Fed still sees inflationary pressures left in the economy, noted that among other things "goods prices have kind of fluctuated. There's been a surprising increase in import prices on goods, which is kind of hard to understand. And, you know, we've taken some signal from that..."
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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