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ECB’s Lane: Current energy shock is unfolding in a less demand-supportive environment
Philip Lane, Member of the European Central Bank (ECB), told an audience in London on Wednesday that the propagation of the Iran shock may be more contained than in 2022, but stronger and faster than historical averages.Fxstreet
Wed, May 13
Fed’s Kashkari: Inflation too high
Neel Kashkari, President of the Federal Reserve (Fed) Bank of Minneapolis, spoke at a St. Paul Area Chamber event in St. Paul, Minneapolis, on Wednesday. He said that the big question is how long the Strait of Hormuz will be closed and what effect will it have on inflation.Fxstreet
Wed, May 13
Two words could rewrite the Fed: what happens if "maximum employment" gets struck?
The House Financial Services Committee (HFSC), chaired by Representative French Hill (R-AR), is the lower chamber's primary oversight body for banking, capital markets, housing finance, and monetary policy.Fxstreet
Wed, May 13
United States Producer Price Index soars in April amid Iran war
The United States (US) Producer Price Index jumped to 6% on a yearly basis in April, following the 4.3% posted in March and largely surpassing the expected 4.9%. On a monthly basis, the PPI rose 1.4%, doubling the March reading of 0.7%, and much higher than the anticipated 0.5%.Fxstreet
Wed, May 13
Silver: Eastern demand supports resilient upside – TD Securities
TD Securities strategists note Silver is maintaining its upside, trading resiliently despite higher energy prices. While recent CTA (Commodity Trading Advisors) buying has slowed, they see renewed interest from Chinese traders on SHFE (Shanghai Futures Exchange) and strong Chinese premiums.
Fxstreet
Wed, May 13
US annual producer inflation climbs to 6% in April vs. 4.9% expected
Producer inflation in the United States, as measured by the change in the Producer Price Index (PPI), rose to 6% on a yearly basis in April from 4.3% in March, the US Bureau of Labor Statistics (BLS) reported on Wednesday.Fxstreet
Wed, May 13
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