EUR/USD
1.15539
0.100%
Gold
4167.34
-2.163%
Oil
86.600
-0.860%
USD/JPY
160.463
0.062%
GBP/USD
1.33948
0.121%
GBP/JPY
214.942
0.185%
Real-time News
NIS, a Russian-controlled oil company, said it has applied for a new license from the U.S. Treasury Department’s Office of Foreign Assets Control in order to continue operating after June 16.Bank of Japan: Governor Kazuo Ueda will submit written comments at the June meeting, but will not participate in the vote.It is understood that the British government is developing plans to revise the steel tariff system.According to Japans Kyodo News, Japan is negotiating with the U.S. Treasury Department to extend sanctions waivers for Russias Sakhalin-2 energy project.On June 10th, RBC Capital Markets (RCM) predicted that rising energy prices would continue to push up overall US inflation, with little prospect of significant relief in food prices, especially after recent reports of rising beef prices. The bank expects core CPI to rise 0.3% month-on-month in May, with year-on-year growth reaching 2.9%. RCM believes that higher jet fuel prices will continue to push up core services inflation, while a tight labor market and resilient wage growth limit further declines in core services inflation. Meanwhile, core goods inflation has been supported by rising new and used car prices in recent months, which has somewhat masked price pressures on trade-sensitive goods such as clothing, personal care products, and auto parts. Both the ISM manufacturing and services surveys show that business input costs are rising sharply. Recent PPI data indicates that businesses still have the pricing power to pass on higher costs to consumers. Therefore, RCM expects businesses to continue passing on upstream cost pressures in May, with both overall PPI and core PPI rising 0.6% month-on-month and year-on-year growth reaching 6.3% and 5.5%, respectively. Furthermore, a survey conducted by the National Federation of Independent Business (NFIB) in April showed a significant increase in the proportion of businesses planning to raise product prices over the next three months, approaching 30%. This indicates that the process of passing on business costs to end-user prices may continue throughout the summer, thus providing further support for inflation trends in the coming months.
