LONDON, May 15 - Global shares rose while the dollar retreated on Wednesday, after a hot reading of U.S. wholesale inflation set a nervous tone for trading before a consumer price report that could prove decisive about when the Federal Reserve cuts interest rates.
Price action was more subdued as investors were reluctant to push any market too aggressively one way or another ahead of the monthly U.S. consumer price index later in the day. "I wonder whether this is a bit of speculative excess and reality will eventually kick in perhaps with CPI today," Pepperstone strategist Michael Brown said.
Data overnight showed U.S. producer prices increased more than expected in April, indicating that inflation remained stubbornly high early in the second quarter.Fed Chair Jerome Powell called the PPI data"mixed" rather than"hot" because the prior month's data was revised lower. Powell reiterated his message of caution over rate cut expectations, although the Fed chief, along with Cleveland Fed President Loretta Mester, poured cold water over the notion of rate hikes, ING economists said.In China, the blue-chip index , opens new tab closed down almost 0.9% after new U.S. tariffs on Chinese goods, which in turn knocked local iron ore prices lower.
The dollar index , which measures the U.S. currency against six others, was down 0.2% at 104.84. The yen was last at 155.595 per dollar, around its weakest in two weeks, keeping traders wary of more intervention by Japanese authorities.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »
Fuente: BNNBloomberg - 🏆 83. / 50 Leer más »
Fuente: BNNBloomberg - 🏆 83. / 50 Leer más »
Fuente: BNNBloomberg - 🏆 83. / 50 Leer más »