Stock Market News

Futures Rise, Yields and Dollar Decline After July CPI Report

2022.08.10 16:06

Futures Rise, Yields and Dollar Decline After July CPI Report
Futures Rise, Yields and Dollar Decline After July CPI Report

By Senad Karaahmetovic

The S&P 500 futures are up 1.7% in premarket Wednesday after the U.S. CPI data rose at a slower-than-expected pace. The Nasdaq 100 futures are up 2.3%.

U.S. inflation was 8.5% in July, according to the Labor Department, while analysts were looking for an 8.7% increase. On a monthly basis, prices were flat while economists were expecting the headline CPI to rise 0.2%.

Excluding food and energy, the core CPI gained 5.9% on a YoY basis and 0.3% compared to June, which is weaker than the consensus of 6.1% and 0.5%, respectively.

The dollar has now dropped to a one-month low with the EUR/USD up 1.2% to 1.0336. In the bonds market, the U.S. Treasury curve steepened as the front-end gained.

“It’s hard to call today’s CPI report anything but dovish… The market reaction to rally financial assets is pretty obvious, and 50 bps next month now looks like a more likely path for the Fed. Of course, there are still another payroll figure and inflation print to come, so nothing will be etched in stone,” said Cameron Crise, macro strategist at Bloomberg.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 63,939.13 1.51%
ethereum
Ethereum (ETH) $ 2,633.49 1.40%
tether
Tether (USDT) $ 1.00 0.04%
bnb
BNB (BNB) $ 595.89 2.30%
solana
Solana (SOL) $ 146.64 0.78%
usd-coin
USDC (USDC) $ 1.00 0.07%
xrp
XRP (XRP) $ 0.590212 1.30%
staked-ether
Lido Staked Ether (STETH) $ 2,631.19 1.38%
dogecoin
Dogecoin (DOGE) $ 0.107505 0.72%
the-open-network
Toncoin (TON) $ 5.66 0.05%
tron
TRON (TRX) $ 0.151687 0.12%
cardano
Cardano (ADA) $ 0.354133 0.22%
avalanche-2
Avalanche (AVAX) $ 27.49 1.14%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,102.24 1.19%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 63,797.09 1.41%
shiba-inu
Shiba Inu (SHIB) $ 0.000015 0.46%
weth
WETH (WETH) $ 2,631.69 1.39%
chainlink
Chainlink (LINK) $ 11.26 0.78%
bitcoin-cash
Bitcoin Cash (BCH) $ 343.76 0.49%
polkadot
Polkadot (DOT) $ 4.37 0.83%
dai
Dai (DAI) $ 1.00 0.07%
leo-token
LEO Token (LEO) $ 5.76 0.37%
litecoin
Litecoin (LTC) $ 69.01 3.39%
uniswap
Uniswap (UNI) $ 6.75 0.33%
near
NEAR Protocol (NEAR) $ 4.55 0.04%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,757.67 1.27%
sui
Sui (SUI) $ 1.61 10.50%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.64 2.70%
kaspa
Kaspa (KAS) $ 0.165959 2.03%
aptos
Aptos (APT) $ 7.93 0.31%
internet-computer
Internet Computer (ICP) $ 8.40 0.07%
bittensor
Bittensor (TAO) $ 499.87 8.24%
pepe
Pepe (PEPE) $ 0.000008 0.84%
monero
Monero (XMR) $ 175.25 0.86%
first-digital-usd
First Digital USD (FDUSD) $ 0.999775 0.15%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.40322 0.57%
stellar
Stellar (XLM) $ 0.096126 1.24%
ethereum-classic
Ethereum Classic (ETC) $ 19.06 0.73%
immutable-x
Immutable (IMX) $ 1.75 9.34%
blockstack
Stacks (STX) $ 1.75 2.65%
ethena-usde
Ethena USDe (USDE) $ 0.999885 0.01%
aave
Aave (AAVE) $ 165.85 3.25%
okb
OKB (OKB) $ 40.32 2.13%
crypto-com-chain
Cronos (CRO) $ 0.086196 1.10%
render-token
Render (RENDER) $ 5.84 6.28%
arbitrum
Arbitrum (ARB) $ 0.614917 2.61%
filecoin
Filecoin (FIL) $ 3.76 0.80%
injective-protocol
Injective (INJ) $ 21.73 4.96%
optimism
Optimism (OP) $ 1.74 1.22%
mantle
Mantle (MNT) $ 0.6303 1.08%