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
The post Daily Market Snapshot: US Core CPI Data Drives Market Movement appeared first on ATFX Global – Official Website.