US CPI for June came in 3% YoY vs 3.1% exp. and 3.3% previously (-0.1% MoM vs 0.1% exp. and 0% previously)
US Core CPI for June came in 3.3% YoY vs 3.4% exp. and 3.4% previously (0.1% MoM vs 0.2% exp. and 0.2% previously)
- US June CPI food inflation came in 0.2%, also housing inflation was 0.2% higher, while rent was up 0.3% MoM
US jobless claims came in 222k vs 235k exp. and 238k previously (1.852M continued jobless claims vs 1,86M exp. and 1.858M previously)
After the data released, Fed fund futures traders bet more on September rate cuts in US economy. Wall Street indices are higher. Markets price in 85% chance of a September Fed rate cut after CPI (vs about 70% before).
Source: xStation5
Source: BLS, Macrobond, XTB Research
Daily summary: exceptionally low US trade deficit; dollar remains strong ๐
NY Fed Survey: higher inflation expectations, but also higher equity price expectations ๐๐
BREAKING: EURUSD reacts to US jobless claims & labor costs data ๐ฝ
BREAKING: PPI in Eurozone higher than expected, unemployment falls