US Inflation Report in Focus | Trump Reiterates Fed Criticism
Published November 13, 2019
The US dollar is expected to make minor advancements against the counterparts, as US inflation data is released this morning. US consumer price index (CPI) is expected to show an increase of 0.3 percent. The market will be closely eyeing the Federal Reserve Chairman Jerome Powell, who will speak later in the day about the current economic outlook.
This morning, the UK Office for National Statistics reported that the UK consumer prices index (CPI) eased to 1.5 percent in October against the expectation of 1.6 percent and worse than 1.7 percent recorded in the previous month. At the time of writing, the British pound is trading at 1.2835 levels against the US dollar.
While speaking at the Economic Club of New York on Tuesday, US President Donald Trump repeated his view that the central bank should continue to cut interest rates to make the US more competitive in the global market. Trump also stated that they were close to signing the phase one of the trade deal with China.
The White House economic adviser Larry Kudlow said on Tuesday that there will be no tariff adjustments until the trade deal with China is made. Kudlow stated that the US has had a very unfair relationship with China through the years, so the deal must be good for the US people and it’s workers.