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Market review for February 14

Market review for February 14

Despite the good data yesterday on the US economy and the very positive outlook for the rate of interest rate increases in the US this year, the US dollar continued to decline against the European currency amid growing concerns about a weak report on the growth of the consumer price index in the US earlier this year .

According to the National Federation of Independent Business, in January this year, the index of economic expectations of small companies in the US has grown significantly, reaching a historic high.

So, the US small business index in January compared with December 2017 increased by 2 points and amounted to 106.9 points. Economists had expected that in January the index would be 106 points. Speech by the President of the Federal Reserve Bank of Cleveland Loretta Mestre did not affect the US dollar.

Mester said that the Fed should raise rates in 2018 at the same rate as in 2017, as a gradual increase in rates helps maintain a balance in the economy.

In her opinion, recent market fluctuations did not affect the prospects for the economy, as it is in excellent condition. Mester expects US GDP growth of about 2.5% in 2018, while, according to her forecasts, inflation will return to 2% in the next one or two years.

It is worth noting that yesterday the White House nominated and is considering the candidacy of FRS President Cleveland Loretta Mester for the post of vice chairman of the Fed.

According to the data, in January 2018, compared to the same period last year, consumer prices in the UK rose by 3%. Compared with December 2017, consumer prices fell by -0.5%, which completely coincided with the forecasts of economists. On an annual basis, economists expected inflation to slow to 2.9% from 3% in December.

Oliver Gilbert, analyst of company

Foto: © Reuters. All attention to inflation data in the US


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