© Reuters.
Investing.com – The inflation data that markets have been anticipating for days has now been released, as markets were expecting a decline in the index on an annual basis, and an increase on a monthly basis, compared to the levels recorded in December, but it missed expectations on an annual basis, but it is on a monthly basis It came as expected, but rose in January from the levels recorded in December.
The importance of the data just released is that it is revealing regarding pricing.
Immediately after the release of the data, gold deepened its gains, after it was high by 0.2% before the data was released, and the gains reached 0.7%. While the dollar fell after the data was released, recording losses of 0.7%.
However, the markets are witnessing sharp fluctuations at these moments, as the dollar cut its losses, while gold lost some of what it gained after the data was issued, rising by only 0.4%.
As part of a strategy aimed at reducing dependence on the dollar, especially after the US debt ceiling crisis, the Chinese dragon, the second largest economy in the world, began to increase its reserves non-stop. Will gold succeed in immunizing China from what it fears? How will the US debt ceiling crisis affect gold? Who will win gold or the dollar?
These and other questions will be answered in the following video.
consumer price index
The index for the month of January increased by 6.4%, after experts expected it to decline to 6.2%, after recording 6.5% in December.
As for Ali, it rose by 0.5%, according to expectations, after rising by only 0.1% in December data.
As for (excluding food and energy), on an annual basis, it increased by 5.6%, contrary to expectations, with an increase of only 5.5%, and rose by 0.4%, according to expectations.
Gold and the dollar now
It recorded a US dollar during the current moments, to levels near $ 1860 an ounce, up by 0.35%.
On the other hand, futures contracts for the yellow metal rose during these moments of today’s trading by 0.45%, up to levels near $1870 an ounce.
Interact now with the inflation data just released, and now record 102.7 levels, down by about 0.4%.
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