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Euro futures traded higher, German inflation was unrevised, and U.S. CPI softer than expected, 6/12/24
Euro futures traded higher, German inflation was unrevised, U.S. CPI softer than expected, Bob Iaccino has more.
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- From xm.com|Jun 12, 2024
The dollar dropped on Wednesday after data showed that consumer prices in May rose less than economists expected, but pared losses after updated interest rate projections by ...
- From cnbc.com|Jun 12, 2024
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post: BoC’s Macklem: MonPol No Longer Needs To Be As Restrictive As It Has Been - Still Need To Get Inflation Down Further To Our TargetsMacklem: Central banking - Navigating in a new world Good afternoon. It’s always great to be back in Montréal, my hometown. And I could not be more pleased to be here with Joachim Nagel, President of the Deutsche Bundesbank. Thank you for visiting us in Canada. Since I’m on my home turf, let me start us off with a few words about where we find ourselves in economic history. Key lessons from high inflation Canada and Germany have just come through the biggest inflation we’ve experienced in 40 years. And as painful as this has been, it has highlighted some lessons. I will focus on three in the Canadian context. First, we ignore the supply-side of the economy at our peril. As central banks, we tend to focus on the demand side because that’s what we influence with interest rates. But coming out of the pandemic, we learned that it is much easier to restore demand than supply. High inflation was a stark reminder that supply shocks can cumulate and persist—and when they intersect with periods of strong demand, the inflationary consequences can be large. Looking ahead, technological change, geopolitical tensions, climate change, and shifting trade and investment flows all suggest we may experience more supply shocks than we did in the past. Businesses and central banks need to be ready. Second, inflation is painful—that’s not a new lesson, but for many of our citizens it was their first experience with high inflation. And it has been painful. Inflation harms people and the economy, and it corrodes trust in our market-based system. Th
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- From bnnbloomberg.ca|Jun 12, 2024
The euro zone’s underlying consumer price growth is proving stubborn, according to European Central Bank Governing Council member Joachim Nagel. Speaking at the International ...
- From fxstreet.com|Jun 12, 2024
GBP/JPY found a new 16-year high of 200.95 on Wednesday, with Guppy bidders shrugging off a steep miss in UK manufacturing activity as the Yen continues to weaken across the ...
- From bnnbloomberg.ca|Jun 12, 2024
Mexico could intervene to restore order if currency market volatility ever becomes “extreme,” central bank Governor Victoria Rodriguez said. Rodriguez made her remarks Wednesday ...
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- Posted: Jun 12, 2024 5:00pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,256
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