BREAKING: EURUSD gains after lower US CPI data 📣

1:30 PM 12 June 2024

01:30 PM BST, United States - Inflation Data for May:

  • CPI: actual 0.0% MoM; forecast 0.1% MoM; previous 0.3% MoM;
  • CPI, n.s.a: actual 0.17% MoM; previous 0.39% MoM;
  • CPI: actual 3.3% YoY; forecast 3.4% YoY; previous 3.4% YoY;
  • Core CPI: actual 3.4% YoY; forecast 3.5% YoY; previous 3.6% YoY;
  • Core CPI: actual 0.2% MoM; forecast 0.3% MoM; previous 0.3% MoM;

US short-term interest-rate futures jump after inflation data; traders price in a bigger chance of Fed rate cuts

The market closely watched core services excluding housing and auto insurance to differentiate between forward-looking indicators and remnants of past inflation. The market is now fully expecting two FOMC rate cuts this year, with an 80% probability of a cut in September.

On a year-on-year basis, inflation remains high and here the largest negative contribution continues to be used cars. However, investors' attention has focused on the m/m figures, which remained unchanged from April. The only noticeable contribution is shelter prices, which are significantly lagging the rest of the sector. Today's Fed decision could be interesting, in particular Jerome Powell's speech after the decision announcement.

 

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits