Your Currency Trading Profits

The US dollar is trading quietly bid today after a lower than expected CPI data this morning. Core CPI prices were lower than expected, rising .1% in April, which lowered the year over year core inflation rate to 2.3%. Overall CPI prices rose 0.2% in April, also below expectations.  Energy prices were unchanged in April, but food prices increased 0.9%.

Both overall and core consumer prices may have been lower than expected in April.  However, core inflation was down on low shelter costs(due to a drop in lodging away from home prices. (hmmm ..what does that tell you )). The overall CPI was held back by a fall in gasoline prices. Gasoline prices will rise sharply in May and the increase in food prices in April implies that price pressures in this area are increasing.  With monthly import prices rising sharply as seen yesterday and  oil at $125 per barrel, May’s CPI report is likely to be much worse than April.

I remain flat right now. Good luck and good trading.

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