Key US Core CPI data came in slightly above expectations yesterday pushing expectations for a Fed cut of 50 basis points off the table. Stocks initially dipped but recovered strongly in afternoon trading.
Both the dollar and treasury yields remained steady, pushing slightly higher on the day and Oil pulled back off recent lows, whilst Gold closed the day close to flat.
It is another busy day ahead for traders today with the European Central Bank due to update the market on their rate call and more inflation numbers due out in the US.
| Market | Change | Close |
| Dow | +0.31% | 40,862 |
| S&P | +1.07% | 5,554 |
| Nasdaq | +2.17% | 17,395 |
| USD | +0.08% | 101.68 |
| US Treasury – 2 Year | +3 bps | 3.645% |
| US Treasury – 10 Year | +1 bps | 3.655% |
| Oil – Brent | +2.05% | $70.61 |
| Oil – WTI | +2.37% | $67.31 |
| Gold | -0.2% | $2,512 |
Today’s Events (AEST):
European Session
- 10.15 pm – Eurozone – European Central Bank Rate Decision
- 10.45 pm – Eurozone – European Central Bank Press Conference
US Session
- 10.30 pm – US – PPI Data
- 10.30 pm – US – Weekly Unemployment Claims Data
- 3.01 am – US – 30-year Bond Auction
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