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Investing.com – The US inflation data that markets have been awaiting for days is now out. The importance of the data just released is that it reveals regarding pricing…
Inflation data was negative this time, as the main monthly and annual consumer price indices came below expectations, and lower than the rates recorded in the previous reading. This also happened in the monthly and annual core CPI data.
The just-released data encourages the Fed to end its tight monetary policy, as it indicates that interest rates at current levels are working and pushing inflation down more than expected, so there may not be a need to raise them again.
Meanwhile, as soon as the data was released, it declined, while it moved upward.
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Inflation data details
The index for October recorded 3.2%, and expectations indicated an increase of 3.3%, after recording 3.7% last September.
As for 0.0% in October, expectations were at 0.1%, after rising by 0.4% in September data.
While it recorded (excluding food and energy) on an annual basis 4% in October, less than expectations of 4.1%, which is the same percentage recorded in the last September reading, and it recorded 0.2% in October, less than expectations of 0.3%, which is the same percentage recorded in September reading.
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Gold and dollar now
Gold futures are now up 0.6% to $1,962 an ounce.
While it rises at the same rate to $1958 per ounce.
On the other hand, the dollar index fell by 0.8% to 104.66 points.
2023-11-14 13:33:00
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