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US inflation surges high as consumer prices soar.
Consumer prices surged at the fastest pace in nearly four decades in November as Americans paid more for practically everything from groceries to cars to gasoline, solidifying hot inflation as a key trait of the economic recovery.
The consumer price index rose 6.8% in November from a year ago, according to a new Labor Department report released Friday, marking the fastest increase since June 1982, when inflation hit 7.1%. The CPI – which measures a bevy of goods ranging from gasoline and health care to groceries and rents – jumped 0.8% in the one-month period from October. You can join a forex forum for learn more latest US economical news and Updates.
MANCHIN SOUNDS ALARM ON INFLATION AS CLOCK TICKS FOR DEMOCRATS ON HUGE SPENDING BILL
So-called core prices, which exclude more volatile measurements of food and energy, soared 4.9% in November from the previous year – a sharp increase from October, when it rose 4.6%. It was the steepest rate since 1991.
Elsewhere, US stocks rallied after the latest inflation report did not come in as hot as many were expecting. Wall Street did not see inflation with a 7-handle and that allowed risky assets to rise, while the dollar turned negative as traders anticipate the Fed won't be forced to deliver a rate hike well before summer.
The stock market rally did not stick as economists still mostly agree that this is not the peak for inflation and that pricing trends will continue to track higher. The preliminary University of Michigan sentiment report showed modest rebounds across sentiment, current conditions, and expectations. Inflation expectations over both the next year remained anchored at 4.9% and the 5-10 year at 3.0%. Despite today's rebound, consumer sentiment still looks vulnerable and will likely struggle if these widespread price increases continue.
Source: foxbusiness.com
On the other hand, Stock indexes mixed on Wall Street after inflation report.
Stock indexes on Wall Street are mixed Friday after the government's latest reading on consumer prices showed inflation is at a four-decade high.
The S&P 500 was up 0.3% as of 11:34 a.m. Eastern. The benchmark index, which had been up 0.8% in the early going, is still on track for its biggest weekly gain since February.
The Dow Jones Industrial Average was up 0.1%, while the Nasdaq composite slipped less than 0.1%. The Russell 2000 index of small-company stocks fell 0.8%.
The Bureau of Labor Statistics said prices for U.S. consumers jumped 6.8% in November compared with a year earlier. Surging costs for food, energy, housing and other items have left Americans enduring their highest annual inflation rate since 1982. Core prices, which exclude food and energy prices, rose 4.9% year over year.
Source: bgdailynews.com
On the other hand, The first Exchange Traded Fund (ETF) launched in April 2000, and its been in the business for more than 20 years.
"In terms of the key benefits for new issuers listing here, we have deep access to an international liquidity pool," Patel says. "We have over 80 trading member firms from more than 20 countries."
A deep liquidity pool translates to a broad and stable investor base. "Investors are very comfortable with the ETF story in London," Patel says, reporting that the last six years, in particular, has seen 100 per cent growth in ETP trading on the London Stock Exchange.
All the current ETF listings in London are UCITs-compliant, although London also offers a route for non-UCITs ETFs. "They are all listed on the Main Market of the London Stock Exchange which gives you the gold standard of listing, with enhanced visibility and status," Patel says.
London is a well-respected financial centre with a strong regulatory environment, and a very robust legal framework for ETPs. "All our ETPs go through a simple but fair process to list with us," she says.
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