5,191.83 TL BIST 100 BIST 100
18.82 $ USD USD
€20.48 EUR EUR
9.14 TL Interest Interest
86.66 $ Fossil Oil Fossil Oil
4.23 $ Copper Copper
23.60 $ Silver Silver
126.64 $ Iron Ore Iron Ore
403.00 $ Ship Dismantling Ship Dismantling
1,164.69 TL Gold (gr) Gold (gr)

Eyes on global markets are in the USA today

Markets made a positive start with the expectation that the US CPI peak was over.

Eyes on global markets are in the USA today

Despite the upward trend in the core CPI in the US, the expectation of a decrease in the headline inflation drags the dollar down, leading to the continuation of the rally in risky assets.

The Bloomberg Dollar Index, which tracks the course of the dollar against developed country currencies, fell 0.1 percent on the third trading day. The index records the longest series of declines in the last month.

Euro/Dollar US CPI climbed above 1.01 again with optimism and falconry ECB.

Stock indices also benefit from the positive atmosphere. The S&P 500 had its fastest four-day rise since June. The S&P 500 index ended the day up 1.1 percent on Monday, while its futures were slightly up. All major Stock Exchanges are rising in Asia Pacific.

Oil activity is calmer than Monday. Before the CPI data, ounce of gold is horizontal.

US inflation expected to decline on a monthly basis

The CPI data, which can be decisive in the Fed's September interest rate decision and subsequent moves, will be announced at 15:30 today.

The median expectation of 48 economists surveyed by Bloomberg indicates that US consumer inflation increased by 8.1 percent in August. The monthly median expectation is for a 0.1 percent decline. If the median expectation comes true, the US inflation, which peaked at 8.5 percent in July, will decline to 8.1 percent, revealing the picture that the peak is behind.

Rapidly declining gasoline prices play a role in this expected decline in headline inflation. According to Anna Wong, economist at Bloomberg Economics, the improvement in the supply chain of some sectors and the price cuts of companies to deplete their stocks may also play a role in the headline inflation decline. However, pointing out that core inflation is still on the rise, Wong says that core inflation will remain above the Fed's target for a long time with the tight labor market and the increase in wages.

CPI, which excludes food and energy prices, is expected to rise by 6.1 percent annually. Core CPI rose 5.9 percent in July. On the other hand, the New York Fed's consumer inflation expectations survey also points to a softening in expectations. The 12-month CPI increase expectation, which was measured as 6.2 percent in July, decreased to 5.7 percent in August.


No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

UK plans to impose carbon tax on steel imports

Wednesday, January 25, 2023

Australia demands that coal miners set aside some of their production for local needs

Sunday, January 22, 2023

Window, Door and Glass Sector Focused on This Fair

Sunday, January 22, 2023

Severstal, NLMK and MMK are trying to resolve the dispute with FAS

Friday, January 20, 2023

European Parliament votes for Waste Shipment Regulation

Thursday, January 19, 2023
Follow List
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.

There are no news categories you follow
Edit Notification Preferences

Global Iron and Steel Exchanges

Iron and Steel Indices, Price and News

E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now