©Reuters.
Investing.com – Inflation data has slowed sharply, giving markets confidence that the Fed’s shift will begin, indicators are responding well, and conditions can improve without a recession.
The US dollar was down about 1.5% to 103.267 on the release of positive data against a basket of foreign currencies, including one which rose recently by 1.23%, and the pound, which climbed to highest in the last 6 months.
Yields fell sharply, as the 10-year Treasury yield fell 4.45% following the data, while the 2-year Treasury yield fell 5.62%.
It is now up more than 2.19% to $1831.5 an ounce, while spot contracts are up 2.06% to $1818.12 an ounce.
It maintained its levels against the US dollar, while it fell against the euro by 1.18%.
The British pound and the euro rose about 1.1% against the dollar, to a six-month high of 1.242 against the dollar. The euro also hit a six-month high of 1.0659.
As for when, it’s up against the dollar by 1%. The pound fell 0.14% in the forex market.
And US market trading began to spike, rising 1.58%, to a record 34005.04, adding 528 points, while the Nasdaq was up 1.26% and the S&P 500 was up 1.43%. .
inflation data
In the US, it was 7.1% annually in November, against the Dow Jones forecast of 7.3%. down from 7.7% in October.
The consumer price index, which measures a broad basket of goods and services, rose 0.1% month on month, below expectations by 0.3%.
European rise
The European index was up 1.8% as of 2pm London time as tech and retail stocks rose more than 4% with all major sectors and stocks trading higher.
waiting for the federal
The US Federal Reserve will hold its last meeting of 2022 on Tuesday. Economists widely expect the bank to rise by half a percentage point when the meeting closes on Wednesday.
Monetary policy decisions from the Bank of England, the European Central Bank and the Swiss National Bank will also be seen on Thursday.
Investors are also eyeing China’s stocks as the easing of COVID-19 restrictions will raise hopes for an economic recovery.
