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US core inflation stuck at 1.7% again – USD falls across the board

“Disappointing US inflation figures: CPI and core CPI both miss expectations and monthly and yearly figures” writes Yohay’s Google Profile for forexcrunch.com. The US was expected to report a rise in core inflation from 1.7% to 1.8% in September, boosting the case for a rate hike by the Fed.We wrote that weak inflation could hit the dollar and indeed: the US dollar is falling across the board. Source: forexcrunch.com Share This:

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U.S. inflation surges again after hurricane boosts gas prices, CPI shows

“The recent energy-driven rise in CPI pushed the yearly rate of inflation to 2.2% from 1.9% to match a six-month high” writes Jeffry Bartash for marketwatch.com. The big picture: The mini-surge in inflation since August mostly reflects higher energy prices, but they already started to decline as refineries get back in business.At the very least, the recent rise in inflation is likely to keep the Fed on track to raise a key U.S. interest rate in December. Source: marketwatch.com Share This:

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Gasoline boosts US consumer prices, but underlying inflation muted

“U.S. consumer prices recorded their biggest increase in eight months in September as gasoline prices soared in the wake of hurricane-related production disruptions at oil refineries in the Gulf Coast area, but underlying inflation remained muted” reports foxbusiness.com. The year-on-year core CPI has now increased by the same margin for five consecutive months.Last month, food prices rose 0.1 percent after a similar gain in August.In the 12 months through September, the core CPI increased 1.7 percent. Source: foxbusiness.com Share This:

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Euro zone inflation misses with 1.5% – EUR/USD ticks down

“Inflation is not going anywhere fast in the euro-zone: 1.5% y/y, standing in place” writes Yohay’s Google Profile for forexcrunch.com. In addition, core inflation also slips to 1.1%, below predictions.The drop in core inflation could push the European Central Bank to opt for a more moderate plan for tapering the bond-buying scheme (QE).Core inflation was forecast to remain unchanged at 1.2%.The preliminary inflation data for September was expected to show a small rise in y/y prices: 1.6% against 1.5% in August. Source: forexcrunch.com Share This:

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Gas and rent boost inflation, but medicare care rises at slowest pace since 1965, CPI shows

“The so-called core index rose 0.2% in August, marking the biggest increase in six months” writes Jeffry Bartash for marketwatch.com. The consumer price index, or cost of living, surged 0.4% last month to mark the biggest increase since January, the government said Thursday.What’s more, a surprising deceleration in the cost of medical care could keep overall U.S. inflation contained if it persists.The shelter index rose 0.5%, including a big increase in rents.Medical care expenses rose just 1.8% in the past 12 months, the smallest increase since 1965. Source: marketwatch.com Share This:

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ECB Preview: Low expectations could send the euro shooting higher

“All in all, the euro has room to rise on the ECB meeting” writes Yohay’s Google Profile for forexcrunch.com. We know that already from the previous rate decision.Further “people with familiar with the matter,” said that the ECB is not pleased with the stress of the euro.So, expectations are low now: the ECB is not expected to make any announcement now, just to tell us that it will make a decision later on. Source: forexcrunch.com Share This:

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News Regulators 

Markets to Fed: Little chance of another rate hike this year

“Inflation is the missing ingredient that would put the Fed on a convincing path to raise interest rates” writes Patti Domm for cnbc.com. New York Fed President William Dudley said Thursday that inflation should pick up and that the Fed was still on track to raise interest rates.Stocks moved higher after the inflation report, though markets remain under pressure due to tensions between the U.S. and North Korea.The already skeptical markets now give the Federal Reserve just a 1-in-3 chance of hiking interest rates in December, after a fifth weak…

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Bank of England hike talk simmers down with concerns that inflation has peaked

“Governor Carney is known to be looking for more domestically generated inflation before fully buying into what look like robust CPI numbers” writes Yuri Gripas for cnbc.com. Meanwhile, doves – who believe in easy monetary policy and are more concerned on jobs – preached that inflation has peaked, and warned on sluggish growth rates amid a backdrop of volatile Brexit fueled politics.Yet at the beginning of the summer, divisions at the bank’s MPC’s (Monetary Policy Committee) were sharply exposed with a surprise 5-3 vote split on whether to raise interest…

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Wells Fargo will pay out $80 million to as many as 570,000 customers it wrongly charged for car loan insurance

“Wells Fargo said late Thursday it would pay back $80 million to customers wrongly charged for car loan insurance in the coming months, which included $64 million in cash and $16 million of account adjustments” reports businessinsider.com. Wells Fargo and Co said it would reimburse about $80 million to 570,000 customers who may have been charged wrongly due to issues related to auto collateral protection insurance (CPI) policies.About 490,000 customers had duplicate vehicle insurance coverage and about 60,000 customers did not receive complete disclosures from vendors, prior to CPI coverage,…

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Wells Fargo Broadsided Anew With an Auto Insurance Sales Scandal

“The document shows Wells Fargo stopped sharing in commissions from the insurance sales in February 2013, she wrote” writes Russell Ward for bloomberg.com. Wells Fargo & Co.’s campaign to rebuild customer and shareholder trust just hit another bump, as the bank said it may have pushed thousands of car buyers into loan defaults and repossessions by charging them for unwanted insurance. Source: bloomberg.com Share This:

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