Forex Today: US Dollar extends recovery to start action-packed week – by eren_fxstreet Currencies Majors Macroeconomics Commodities CryptoCurrencies
, the Fed's preferred gauge of inflation, edged lower to 4.6% on a yearly basis in March from 4.7% in April. Moreover, the US Bureau of Labor Statistics reported that the Employment Cost Index, compensation costs for civilian workers, increased by 1.2% in the first quarter, compared to 1% increase recorded in the previous quarter.
Over the weekend, roughly a dozen banks, including PNC Financial Services Group, JPMorgan Chase & Co and Citizens Financial Group Inc, have reportedly submitted bids for first Republic Bank as US regulators are trying to finalize the sale. US stock index futures trade modestly higher on the day following this development and the benchmark 10-year US Treasury bond yield stays below 3.5% despite having retraced a small portion of Friday's decline.
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