Urgent: US inflation data comes out as a surprise and moves the markets strongly

Urgent: US inflation data comes out as a surprise and moves the markets strongly
Urgent: US inflation data comes out as a surprise and moves the markets strongly


Urgent: US inflation data comes out as a surprise and moves the markets strongly


Days before the Fed’s decision on interest rates, which the markets expect to be a turning point in the Fed’s tightening policy so that the Fed takes a less violent path after the slowdown in inflation data and the presence of negative signs of a possible recession in 2023, the Producer Price Index data comes today to be the last signal in this week. The state of the US economy, its strength, and the correctness and validity of the idea of a federal transformation.


Producer price index data

On an annual basis, the headline producer price index for November increased by 7.4%, while experts expected it to slow down and rise by only 7.2% after rising by 8.0% in the previous reading.

On a monthly level, it rose by 0.3%, and experts expected it to maintain its rise by 0.3%.

The producer price index (excluding food and energy) rose by 6.2%, while experts had expected it to rise by 5.9%, down from its rise of 6.7% in the previous reading.

On a monthly basis, it rose by 0.3%, while experts expected it to rise by 0.2%.


Conclusion

Inflation data (Producer Price Index) witnessed a slowdown compared to last October's data, but it was higher than expected.


Markets Now

Gold futures are now recording an increase of 0.52%, to trade at $ 1811.25 an ounce, while the spot contracts for the yellow metal are up by 0.41%, to record $ 1,798.75, and gold is heading downwards since the release of the data.

And the dollar index is now recording an increase of 0.15% and recording 104.903 against a basket of foreign currencies.

The data was negative on Wall Street, with S&P futures now down 0.53%, Dow Jones futures down 0.52%, and Nasdaq futures down 0.44%, after worse-than-expected data.

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