Yesterday, USD strengthened against all major currencies.

The CPI m/m data released yesterday indicated a sharp increase in inflation in April. Measured from a year ago, annual inflation rose by 4.2%, the fastest since 2008.

  • CPI m/m (Actual: 0.8%, Forecast: 0.2%, Previous: 0.6%)
  • Core CPI m/m (Actual: 0.9%, Forecast: 0.3%, Previous: 0.3%)

During their talks yesterday, FOMC members Clarida and Bostic downplayed the sharp rise of inflation in April. Clarida highlighted that April’s data is only “one data point” and is likely going to be transitory while Bostic said that volatility in inflation is expected to last four to five months as the country is going through a turbulent time.

The Unemployment Claims data (Forecast: 487K, Previous: 498K) will be released later at 2030 (SGT).

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By Jin Dao Tai

JinDao Tai is an Entrepreneur, Award-Winning Forex Coach & Trainer, International Speaker and Multi-Million Dollar Trader. Starting out his career as an economic & financial consultant in Australia, one day he decided to change his life and pivoted into multiple entrepreneurship endeavours and eventually into managing a multi-million dollar portfolio.

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