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US indices launched today's cash trading in mixed moods ahead tommorows CPI data and FOMC release
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US500 is trading sideways above 4100 points
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Williams: Inflation data has been consistently strong and labor market remains tight
Wall Street sentiment at the opening is rather optimistic although major indexes are trading sideways. Today's calendar is light and investors are waiting for key data later this week. CPI inflation data for March are released tomorrow, which will probably be the last key macroeconomic indicator before the Fed FOMC meeting in early May.
US indexes are trading sideways after neutral comments from FED’ William. He stated that FED’s median forecast for one more hire is reasonable. Despite inflation and labor data remains strong, monetary policy is already tight and if inflation comes down FED will need to lower rates.
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US500 consolidates between 4100 and 4172 points ahead of CPI data being released tomorrow. Support zone near 4100 has been tasted three times in the last 7 days. Index currently trading near resistance level at 4172 point.
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