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US Inflation Data has the Markets on Edge

ByEditor

Feb 13, 2024

Today, financial markets are anxiously awaiting data on US inflation as American central bankers continue to insist that the first rate cuts are not in sight. Michelle Bowman, the governor of the Fed board, said that they do not expect the institute to cut rates in the immediate future. Today’s US consumer price index for January is expected to show slower price growth in the world’s largest economy. The three major Asian markets are closed for the Lunar New Year holidays, with Shanghai not reopening until February 19th and Hong Kong reopening tomorrow. In the US, major stock indexes experienced some fluctuation yesterday. On the international front, the Tokyo Stock Exchange has risen to the top for 34 years in part due to the good results of Tokyo Electron and SoftBank. In Europe, futures on the EuroStoxx 50 remained relatively unchanged. Data on US and UK inflation will be released later in the week, which could impact expectations and strategies. European Central Bank policymakers have also been speaking this week ahead of key data releases. In addition to the data on US inflation, the United Kingdom will release labor market data today and inflation data tomorrow.

Oil prices are rising slightly in Asia. In the US, more than 60 companies from the S&P 500 Index will present quarterly results throughout the week, providing important insights into the state of the US consumers. Bond yields have been rising as the market digests various data and news on monetary policy. Amid these developments, analysts continue to pay close attention to movements in asset prices and broader economic indicators.

By Editor

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