The U.S. consumer price index posted its biggest year-on-year gain since August 2008 of 5 percent, following a 4.2 percent rise in April. Hefty contributions from short-term rises in airline ticket prices and used cars raised doubts about underlying inflationary pressures. Meantime, data from the U.S. Labor Department revealed new claims for unemployment benefits in the country dropped to the lowest level in nearly 15 months last week, as the coronavirus is expected to take a back seat in the near future.
And as we mentioned yesterday that bitcoin will soon be made a legal tender, the International Monetary Fund said on Thursday it has economic and legal concerns regarding the move by El Salvador’s government. That is believed to further cloud the outlook for an IMF-backed programme and widen spreads on the country’s bonds.
To the charts now:
U.S. stocks:
DOW: +19.10 (34,466.24 USD)
S&P 500: +19.63 (4,239.18 USD)
U.S. 30-YEAR TREASURY BOND: 105.25 USD
YIELD: 2.14%
SPOT GOLD: 1,899.56 USD
U.S. DOLLAR CROSS RATES:
YEN: 109.3800
EURO: 0.8208
STERLING: 0.7057
SW FRANC: 0.8935
CAN: 1.2081
AUD: 1.2872
EUROPEAN MARKETS:
UK FTSE – 100: +33.96 (+0.48%, at 7,122.14 GBP)
FRANCE CAC-40: +23.39 (+0.36%, at 6,569.88 EUR)
GERMAN DAX-30: -3.35 (-0.02%, at 15,567.87 EUR)
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