Key Points:
The monthly US inflation CPI data remained unchanged in October, maintaining the 0.4% rise observed in September. Notably, the annual inflation rate in October decreased from September’s 3.7%.
Similarly, the core consumer price index, a crucial factor influencing Federal Reserve interest rate decisions, rose by 0.2% from the previous month and 4.0% from the same month last year, falling short of expectations.
The core price index, which had seen slight expansions in August and September, returned to the 0.2% level in October. This movement is under close scrutiny as it could impact the Federal Reserve’s decision on interest rates.
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Despite headline US inflation CPI data receding in recent months, it has consistently remained above the U.S. Federal Reserve’s 2% target. Additionally, the core rate has stubbornly stayed above 4% for several consecutive months. Federal Reserve members have hinted at the possibility of one more rate hike as part of a roughly 20-month monetary tightening cycle.
Following the U.S. inflation announcement, the stock index futures of the New York Stock Exchange experienced a rapid increase in prices. Furthermore, Bitcoin prices also saw a slight uptick, with BTC currently trading above $36,500. Investors are closely watching these developments amid ongoing economic uncertainties.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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