Dollar weakens against major currencies As investors keep an eye on US inflation numbers tonight. which is expected to slow down after hitting the highest level in more than 40 years earlier
As of 6:58 p.m. PST, the dollar was 0.49% lower to 129.78 yen, while the euro was down 0.33% to 136.85 yen and rebounded 0.17% to $1.055. The index measures the dollar’s movements against the six major currencies in the money basket, minus 0.3% to 103.61.
Investors eyeing US inflation numbers tonight. This may affect the Federal Reserve’s (Fed) monetary policy decision in June.
The US Department of Labor will release the Consumer Price Index (CPI), a measure of inflation based on consumer spending. April, today at 7:30 p.m. Thai time.
Analysts had forecast the headline CPI rose 8.1 percent in April year-on-year. but below 8.5 percent in March, the highest level since December 1981.
The headline CPI is also expected to rise 0.2% month-on-month. and below 1.2% in March
The core CPI, which excludes food and energy, is expected to jump 6.0 percent in April year on year, below the 6.5 percent in March, the highest level since August. 1982
Core CPI is also expected to rise 0.4% month-on-month, above the 0.3% mark in March.
The Federal Reserve Bank of New York has released its monthly consumer inflation forecasts for April. Found that the US household sector expects inflation to slow down over the next 12 months.
The survey results from a sample of 1,300 households found that Short-term inflation expectations for the next 12 months fell 0.3% to 6.3 percent in April on expectations that food and energy prices will slow during the period.
Previously, short-term inflation expectations for the next 12 months jumped to 6.6 percent in March, a record high.
Mid-term inflation expectations for the next three years rose 0.2% to 3.9 percent from 3.7 percent in March.
