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vegassports-odds.com October 17, 2017


United States retail sales and CPI higher in September

14 October 2017, 01:04 | Melvin Schneider

The US dollar has some momentum into the retail sales and CPI numbers. What to watch for

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USA consumer prices recorded their biggest increase in eight months in September as gasoline prices soared in the wake of hurricane-related refinery disruptions, but underlying inflation remained muted.

Consumer prices advanced 1.8 percent year-on-year in September, the same rate as seen in August.

Some Fed officials have been waiting for signs of rising inflation-coupled with low unemployment and steady job growth-before raising interest rates again.

"In general the idea of lower inflation puts in people's minds that the Fed will go more slowly".

Meanwhile, the monthly rise in vehicle sales was 3.6% in September, with unit sales reaching a 12-year high, and sales of building materials and garden equipment were up 2.1% on the month.

U.S. Treasury yields dipped and the dollar rose slightly on Thursday as investors awaited U.S. inflation data while Wall Street stock indexes fell as earnings season kicked off with a whimper.

"We're seeing positive economic news even in the midst of so called geopolitical risk, I think investors are generally more optimistic right now", said Craig Erlam, senior market analyst at OANDA, referring to strong corporate earnings.

On the year, core CPI increased 1.7% for the fifth consecutive month, missing the 1.8% consensus forecast.

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Policymakers could, however, find solace from another report indicating that the U.S. economy was swiftly recovering from the damage inflicted by Hurricanes Harvey and Irma, with a strong rebound in retail sales last month.

A surge in energy prices in the aftermath of Hurricane Harvey pushed USA inflation rate in September to an eight-month high, while the core inflation less food and energy remained muted, according to a report released by Labor Department on Friday.

The euro was down 0.15 percent to $1.1839 snapping four straight days of gains after rising to its highest since September 25 earlier in the session.

The report also said the annual rate of producer price growth accelerated to 2.6 percent in September from 2.4 percent in August.

"With a December rate hike nearly fully priced in by now, however, investors are starting to focus on the Fed's still cautious forward guidance and hence the limited scope for a further increase of the dollar's rate advantage".

Oil prices rebounded from earlier losses, although they were still down on the session, after the U.S. Energy Department reported a larger-than-expected decline in U.S. inventories and a falloff in weekly production.

Economists had expected prices to increase by 0.6 percent.

Meanwhile, Americans' inflation-adjusted incomes slipped for the second straight month, the Labor Department said in a separate report Friday.



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