Urgent: Positive inflation data surprises the markets..gold soars by 1.3%, and the dollar loses 1%

Urgent: Positive inflation data surprises the markets..gold soars by 1.3%, and the dollar loses 1%
 Urgent: Positive inflation data surprises the markets..gold soars by 1.3%, and the dollar loses 1%



Urgent: Positive inflation data surprises the markets..gold soars by 1.3%, and the dollar loses 1%


The US inflation data was released today, and it is the most important data in the US economic scene, as slowing inflation down to 2% is the first goal of the US Federal Reserve, and it is the first mover for Jerome Powell in his decision regarding interest rates.


consumer price index

On an annual basis, the headline CPI for November increased by 7.1%, while experts had expected it to rise by 7.3%, down from the 7.7% increase in the October data.


On a monthly basis, the headline consumer price index rose by 0.1%, while experts expected it to rise by 0.3%, after rising by 0.4% in October.


Core CPI (excluding food and energy)

Core CPI for November rose 6.0% year-on-year, while experts had expected it to rise 6.1%, down from 6.3% in October.


On a monthly basis, it increased by 0.1%, while experts expected it to maintain the increase by 0.3%, as stated in the October data.


real income

Real income in the United States rose on a monthly basis from November by 0.2%, and it is reported that it witnessed a contraction last month by -0.1.


Conclusion

Inflation data for the month of November witnessed a very large slowdown and came better than experts' expectations, which suggests that the Fed will raise interest rates by only 50 basis points and will adopt a less aggressive approach after the slowdown and response of inflation indicators to interest rates.


markets now

Gold contracts rose now by more than 1.37%, to record $1816.45 an ounce, while spot contracts rose by 1.23%, to record $1802.6 an ounce, while silver contracts rose by 2.38%, to record $23,960 an ounce.


The US dollar index lost nearly 1 point against a basket of foreign currencies, and now stands at 103,782 points.


In pre-opening trading, the S&P 500 index rose by 0.71%, the Dow Jones index by 0.69%, and the Nasdaq 100 by 0.88%.

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