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Investing.com – US inflation and Producer Price Index data are now out, which should provide further signals on the Fed’s next steps on monetary policy.
The index readings were negative this time, which gives the Fed a greater opportunity to end its tight monetary policy sooner, meaning that the data is negative for the dollar and positive for gold and stocks.
Immediately after the data was released, it significantly increased its gains, while reducing its gains.
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Data just released
It recorded a decline of -0.1% in December, while experts expected an increase of 0.1%, and the previous reading was revised to record -0.1%.
The index slowed compared to expectations, but it increased compared to the previous reading that was revised, as it recorded 1% for the month of December, while expectations indicated an increase of 1.3%, and it recorded 0.8% in November.
Monthly, it was stable at 0.0%, while expectations were for an increase of 0.2%. It was recorded at 1.8%, while expectations were at 1.9%, and the previous reading had recorded 2%.
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Gold and dollar now
Gold futures are now up 2% to $2,059 an ounce.
While it rose by 1.3% to $2055 per ounce.
On the other hand, the dollar index stabilizes at 102 points.
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2024-01-12 13:34:00
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