Ed Moya, Senior Market Analyst at OANDA joins me to recap the April CPI data that showed a major pop in inflation. Headline CPI jumped 0.8% m/o/m and the core rate by 0.9% in April, blowing past expectations of up 0.2% and 0.3% respectively. That core rate gain is the most since 1982. The market reaction is down across the board. US markets, gold, bonds and base metals to name a few are all down on the day. Seems like everyone is projecting forward to a Fed reaction.
Click here to visit the OANDA website and read over Ed’s daily note.