US Inflation



African News Agency


Consumer inflation in the United States in April rose 8.3% year-onyear, which was higher than the Bloomberg consensus expectation of 8.1%. Says Siobhan Redford at RMB: “Fortunately, this was below the March print but still significantly elevated by historical standards. The market response was unsurprising. Dollar strength ensued and equity markets fell as shorter-dated yields rose as market expectations for continued US Federal Reserve tightening cemented. It would seem that 50bp hikes at the June and July meetings are all but done, and the chance of a 50bp hike in September remains in play.” The Financial Sector Conduct Authority (FSCA) warns against doing business with an individual by the name of Jan Nkuna and Wink World Wide. It received a complaint from a member of the public who invested money with Nkuna and Wink World Wide for purposes of trading forex. Without commenting on the business of Wink World Wide or its products and services, the FSCA points out that, for a company to offer forex trading in South Africa, it must be licensed to do so by the FSCA. Nkuna and Wink World Wide are not authorised togive any financial advice or render any intermediary services in terms of the Financial Advisory and Intermediary Services Act.