US bond market yields rose only temporarily following the inflation data. The yield on ten-year papers was recently little changed at 4.47 percent. It was said that economic concerns had supported bond prices. With a view to the economic data announced for Thursday, it is expected that retail sales growth weakened in April and the number of initial applications for unemployment benefits increased last week.
+++++ FOREIGN EXCHANGE MARKET +++++
last +/- % +/- abs. End of the previous day, Wed, 5:05 p.m
EUR/USD 1.1712 +0.0 0.0002 1.1710 1.1709
EUR/JPY 184.98 +0.0 0.0600 184.9200 184.8400
EUR/CHF 0.9157 0.0 0.0000 0.9157 0.9161
EUR/GBP 0.8663 +0.1 0.0005 0.8658 0.8662
USD/JPY 157.92 +0.0 0.0700 157.8500 157.8600
GBP/USD 1.3515 -0.1 -0.0007 1.3522 1.3514
USD/CNY 6.786 -0.1 -0.0048 6.7908 6.7908
USD/CNH 6.7851 -0.0 -0.0007 6.7858 6.7876
AUS/USD 0.7254 -0.1 -0.0004 0.7258 0.7256
Bitcoin/USD 79,538.96 -0.2 -129.24 79,668.20 79,780.76
The dollar extended gains following higher-than-expected US producer prices in April. The dollar index rose 0.3 percent. The data has a chance of being one Interest rate cut nullified by the US Federal Reserve, commented Naeem Aslam, analyst at Zaye Capital Markets.
+++++ RAW MATERIALS +++++
METALS
last +/- % +/- abs. End of the previous day
Gold 4,693.11 +0.1 5.68 4,687.44
Silver 86.93 -1.2 -1.04 87.98
Platinum 2,133.78 -0.2 -3.62 2,137.40
The price of gold fell again. The troy ounce fell by 0.6 percent to $4,685.
OIL
last +/- % +/- abs. End of the previous day
WTI/Nymex 101.59 +0.6 0.57 101.02
Brent/ICE 106.17 +0.5 0.54 105.63
Hopes of an early end to the Iran war caused prices to fall slightly on the oil market. Brent oil fell 2 percent to $105.63. US oil inventories, which had surprisingly fallen significantly in the previous week, did not provide any support. The International Energy Agency’s warning of a supply shortage also fizzled out.
+++++ REPORTS SINCE WEDNESDAY 5.30 PM +++++
USA – monetary policy
The US Senate confirmed Kevin Warsh as the 17th chairman of the Federal Reserve in a largely bipartisan vote. Warsh, who was nominated by President Trump, was voted for by 54 senators and 45 against. Incumbent Chairman Jerome Powell, whose term ends Friday, had received at least 80 votes in Senate confirmations for each of his two terms. At a Senate confirmation hearing last month, Warsh faced intense questioning from Democrats about how he would maintain the Fed’s independence in the face of a president who prioritizes personal loyalty. Warsh said he would maintain the central bank’s monetary policy independence and had made no promises to Trump regarding policy decisions. Powell plans to remain on the Fed’s board amid political attacks on the institution, defying Trump’s calls for him to resign.
Boston Fed President Susan Collins is bracing for a longer period of stable interest rates. She hopes inflation will decline, which could allow the Fed to cut interest rates further later this year, she said. But if the Iran conflict drags on and prices continue to rise, “I could imagine a scenario in which some monetary tightening is required to ensure that inflation returns to 2 percent in a timely and sustained manner.”
BMW
The general meeting approved the conversion of the preference shares into ordinary shares. The conversion becomes effective upon entry of the amendment to the articles of association in the commercial register. BMW will announce the exact time.
VW/XPENG
The Chinese electric car manufacturer Xpeng says it is in talks with VW and other car manufacturers about purchasing a plant in Europe. “We… are discussing with (Volkswagen) to see if there is an opportunity to find a location here in Europe,” Elvis Cheng, Xpeng’s managing director for northeast Europe, said at the Financial Times’ “Future of the Car” summit.VW invested $700 million in 2023 for a 5 percent stake in Xpeng. VW recently announced that it would have to reduce excess production capacity in Europe in response to weaker demand and increasing competition. Xpeng builds its vehicles in the region at the contract manufacturer Magna Steyr’s factory in Austria. However, Cheng said the production line is reaching its capacity limits.
VINCI
has received a major order from Great Britain for systems for a high-speed rail line that will connect West London with Birmingham. The volume of the contract, which was awarded to the joint venture Taylor Woodrow, which is jointly operated with Aureos Rail, is 856 million pounds.
CISCO
has raised its forecasts for the current financial year after a surprisingly good third quarter. As it refocuses on high-growth businesses, including AI infrastructure, the network equipment maker also announced job cuts at a cost of up to $1 billion.
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NOTE: This briefing may contain message elements that have been automatically translated from the original English version into German using artificial intelligence. The English language version should be considered the authoritative version.
Contact the author: [email protected]
DJG/ros/cln/gos
(END) Dow Jones Newswires
May 14, 2026 01:33 ET (05:33 GMT)