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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.
DATA REACT
US April import prices came in a little softer than expected (0.0% vs 0.6% survey, ex-petroleum 0.4% vs 0.7% expected). This release usually gets overlooked, but today's report offers some signs that import prices are moderating, notably for ex-petroleum imports.
- A stronger USD usually acts as a dampener to import prices, but that hasn't been the case since mid-2021.
- That may be changing, with the 8% Y/Y rise in the broad USD exchange rate in May marking the strongest rise in 6 years.
- Some saw weakness in apparel prices in the April CPI report for example as a potential early signal that the stronger dollar would provide a disinflationary effect.
- Most of the worry around inflation right now is about services, but when inflation's this high, every little bit on the goods side will help.
Source: BLS, Fed, MNI
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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