Dollar Continues to Slide

July 18, 2017

The inability of the U.S. Republican Congress to pass legislation in the Trump era took a further toll on the dollar today. Gold rose. Stocks stalled, and long-term interest rates are lower.

Subdued inflation remains a global economic trend.

  • U.S. import prices slid 0.2% on month in June after a 0.1% dip in May and a mere 0.2% uptick in April. Import prices were 1.5% higher than in mid-2016, and export prices posted a year-0n-year rise of 0.6%.
  • British CPI inflation settled back to 2.6% in June, a three-month low despite sterling’s wobbles. Producer output and input price inflation also slowed last month. So did the Department of Communities and Local Government house price index.

The German ZEW Institute’s investor sentiment indices fell in June for Germany but were mixed for Euroland as a whole where the expectations index slipped 2.1 points but was accompanied by an 8.2 point advance in perceived current conditions.

The U.S. NAHB housing market index fell to a 10-month low  in July.

Hungary’s central bank left its interest rate at 0.90% after its latest review, citing some continuing unused capacity and projecting in-target inflation on a sustainable basis by early 2019.

New motor vehicle sales in Australia rose 1.2% on month in June and were 3.6% higher than a year before.

Copyright 2017, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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