Excesses react to weaker than expected inflation in the USA - an analysis of DAX, NASDAQ, S&P 500, gold, silver, cryptocurrencies and the euro
Excesses react to weaker than expected inflation in the USA - an analysis of DAX, NASDAQ, S&P 500, gold, silver, cryptocurrencies and the euro
Inflation in the USA was less than expected in June with 3.0 percent weaker. This has an impact on the financial markets such as the DAX, NASDAQ, S&P 500, gold, silver, cryptocurrencies and the euro. Here you can find out how these markets behave according to the number of inflation.
Consumer prices rose by 3.0 percent compared to the same month, as the US Ministry of Labor announced in Washington. In the previous month, the rate was still 4.0 percent. Bank economists had expected an average of 3.1 percent. The current rate has been the lowest in a little more than two years. The core inflation, in which volatile energy and food prices are excluded, also fell from 5.3 to 4.8 percent.
Inflation data is currently of great importance for the monetary policy of the US Federal Reserve Fed. In June, the Fed had taken a break during its tightening course, which it had been pursuing since March 2022. For the next meeting at the end of July, however, a new interest rate increase is expected.
After the announcement of the number of inflation, the stock exchanges reacted positively. The German leading index Dax increased by 1.20 percent to 15,930 points and thus almost reached the 16,000 points mark. The TecDax increased by 1.14 percent and was about to increase shortly before the opening of the US exchanges. The US indices were also friendly. Before opening of the stock exchange, the Dow Jones was 0.7 percent, the S&P 500 at plus 0.8 percent and the tech exchange NASDAQ at plus 1 percent.
The number of inflation also had a positive effect for gold, silver and cryptocurrencies. Gold and silver were slightly up to the announcement and then rose by 0.75 and 2.9 percent. The cryptocurrencies Bitcoin and Ethereum also increased easily.
The euro was stronger compared to the dollar and was $ 1.102. According to the number of inflation, the euro increased to $ 1.1078.
The publication of the beige book in the evening could cause further turbulence on the financial markets. In addition to the inflation data, the latest report on the economy in the FED districts will also ensure discussion material. Investors hope for further information on how inflation and business will develop in the USA and which trends are emerging on the labor market. This is crucial for how long and strong the interest rate increases in the USA will be.
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