WASHINGTON (MarketWatch) – U.S. consumer prices rose a seasonally adjusted 0.4% in April, led by higher gasoline costs, the Labor Department reported Friday. So-called core prices rose a lesser 0.2%. The core data strips out volatile food and energy costs. Economists surveyed by MarketWatch had forecast CPI to rise 0.4% overall, with a 0.2% increase in the core rate. Consumer prices have jumped an unadjusted 3.2% over the past year, the largest 12-month increase since October 2008. Average hourly earnings of U.S. workers, meanwhile, fell 0.3% last month after taking inflation into account. Inflation-adjusted hourly wages are down 1.2% over the past 12 months.read more...
Euro Area GDP increased by 0.8% during the first quarter of 2011, compared with the previous quarter, according to flash estimates published by Eurostat.read more...
A stronger-than-expected growth spurt in the eurozone’s largest economy drives the bloc to a faster rate of expansion than the US as the UK stagnatesread more...
WORLD FOREX: Strong GDP Data Give Euro Temporary Support
Wall Street Journal
By Siva Sithraputhran Of DOW JONES NEWSWIRES LONDON (Dow Jones)–News the euro-zone economy grew at its fastest pace in three and a half years gave the flagging euro only temporary respite Friday as revived interest rate-rise expectations gave way to …
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The U.S. dollar softens against major rivals after euro-zone gross-domestic-product data top expectations, led by a booming Germany.read more...
Euro / US Dollar
Crude Commodity markets experienced rather calm trading yesterday. After a more than 4 percent plunge on Wednesday, Brent posted little gain on Thursday. China’s planning agency said today that the country will put diesel exports on hold. China’s officials said earlier that the country might experience the worst energy shortages since 2004 during the summer. Such events will likely lead to higher utilization of diesel-powered generators. Regarding the latest IEA’s monthly Oil Market Report,read more...