USD, CPI Value Evaluation & InformationUS CPI Prints Forward of EstimatesUSD Dips, Gold Positive aspects, S&P 500 Whipsaw
USD, CPI Value Evaluation & Information
- US CPI Prints Forward of Estimates
- USD Dips, Gold Positive aspects, S&P 500 Whipsaws
US CPI Costs Forward of Expectations
BOTTOM LINE: US CPI rose 0.6% on the month, 0.1ppts above expectations, which noticed the yearly price at 2.6% (highest since Aug 2018), forward of the two.5% consensus. In the meantime, the core studying additionally printed forward of forecast at 0.3% on the month and 1.6% on the yr. Nevertheless, with the Federal Reserve overlaying at size that they may look by way of the inflation spike within the subsequent few months as they continue to be adamant that inflation shall be transitory, this knowledge level has little in the way in which of coverage implications. In flip, markets noticed a broadly muted response.
MARKET REACTION: In response to the upper than anticipated determine, the US Greenback dipped to 92.00, which in flip noticed the Euro specifically choose up a slight bid, though this was very a lot according to the choice implied transfer. That stated, in mild of the USD slipping, gold edged up $10 to $1740, whereas the US 10yr fell 3bps to 1.66% with each the Dow Jones and S&P 500 seeing a uneven response.
USD, US RATES & GOLD REACTION TO US CPI
Supply: Refintiv
LOOKING AHEAD: Extra tier 1 knowledge from the US shall be in focus with the US retail gross sales scheduled later this week the place dangers are tilted to the upside.
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DATA OVERVIEW: DailyFX Financial Calendar
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