Those who awaited US April CPI data hoping for a summary execution of the inflation narrative walked away from Wednesday’s release disappointed. But the reality is that inflation, although falling, is not doing so quite at the rate most were expecting. For the time being, traders will need to balance both of those factors as they trade the US dollar. What Wednesday’s CPI data did show is that inflation can at least fall on an annualised and monthly basis in one form or another. Headline CPI in April dropped to 8.3% from 8.5% even though it was above the 8.1% economists were predicting. Likewise, the core inflation ... (full story)