US March CPI report: 2.4% YoY vs 2.5% exp. and 2.8% previously
- US CPI MoM: -0.1% vs 0.1% exp. and 0.2% previously
Core CPI YoY: 2.8% vs 3% exp. and 3.1% previously
- Core CPI MoM: 0.1% (Forecast 0.3%, Previous 0.2%)
U.S. short-term interest rate futures rise after data, as traders increase bets on Fed rate cuts. Immediately following the U.S. macro data release, the stock market gained as investors no longer feared hot inflation readings, making Fed rate cuts more likely. However, this reaction is being "tested" by bears, as a lower CPI reading could also signal a weakening U.S. economy and softer consumption — raising concerns that companies may struggle to pass the costs of the trade war onto consumers.
Source: xStation5
Source: Bloomberg Finance L.P, XTB Research
Source: Bloomberg Finance L.P, XTB Research
Source: Bloomberg Finance L.P, XTB Research
Source: Bloomberg Finance L.P, XTB Research
Daily Summary: "Heat" of the NFP Print Cools Market Sentiment ⬇️
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