Financial markets are expected to rally following the latest CPI data released by the United States Labour Department. The better-than-expected report showed a slowing inflation rate on a monthly basis as well as from the previous year. According to CPI data, United States inflation cooled with figures dropping to 0.1% from the previous month.
This took yearly figures to 3%, its lowest point since to pandemic. The yearly drop is the first in about three years sparking positive sentiments for favorable macro conditions in traditional and digital markets. All time index rate fell from 3.3% in May consumer prices declined. While gas prices plunged 3.8%, shelter and food prices went up 0.2%.
CPI To Rally Markets
Financial markets including stocks, crypto assets, and gold prices have recorded a shift in sentiment pots the U.S. CPI data. Gold skyrocketed above $2,400 as hopes of interest rate cuts by the Federal Reserve grew. The precious metal tapped $2,414, surging over 1.8% amid intra-d
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