The latest Consumer Price Index (CPI) figures have just been released, and they show a cooling trend that slightly outpaced analyst projections. The headline year-over-year rate arrived at 2.4%, coming in just below the anticipated 2.5% consensus.
This report should bring some relief to Markets which have been struggling throughout this week to find much momentum. but expect reactions to stall as participants digest the data.
Immediate reactions are seen in a quasi-everything rally, spanning from Metals to bonds and including also Crypto, Oil and Stock futures. Only the US Dollar is heading lower. The Market open should be broadly green.
Fed cut odds for March are at 10%, these odds should shift higher throughout the session.
Bureau of Labor Statistics statement: "The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in January on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.4 percent before seasonal adjustment. The index for shelter continued to rise in January, while the energy index fell, offsetting increases in other categories."
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