{"id":36272,"date":"2022-10-13T15:07:00","date_gmt":"2022-10-13T14:07:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=36272"},"modified":"2022-10-13T23:13:44","modified_gmt":"2022-10-13T22:13:44","slug":"market-wrap-us-cpi-comes-in-hot","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/market-wrap-us-cpi-comes-in-hot\/","title":{"rendered":"Market Wrap – US CPI COMES IN HOT"},"content":{"rendered":"\t\t
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The United States CPI inflation report came in stronger than expected earlier today, causing stock markets globally to take a notable downturn and for the US dollar<\/a> to rise.<\/p>

Notably, the S&P500<\/a> crashed towards the 3,500 level and the Nasdaq<\/a> continued its descent towards the 10,000 level. The DJIA<\/a> also lost considerable ground.<\/p>

In Europe, it was more of the same with the UK100<\/a> crashing towards the 6,700-support level and the likes of the GER40<\/a> and the CAC40<\/a> suffering heavy losses.<\/p>

Breaking down the inflation report, the consumer price inflation in the US eased for a third straight month to 8.2 percent year-on-year in September 2022, the lowest since February but above market expectations of 8.1 percent.<\/p>

The annual rate remained well above the US Federal Reserve’s target of 2%, suggesting policymakers will maintain their hawkish rhetoric and keep raising interest rates at a quick pace.<\/p>

Look at category by category, cost increased at a softer pace for both food (11.2 percent vs 11.4 percent in August) and energy (19.8 percent vs 23.8 percent), while the shelter inflation accelerated (6.6 percent vs 6.2 percent).<\/p>

The US CPI was at 296.808 points in September, compared with 296.171 points in the prior month and market forecasts of 296.43 points.<\/p>

Another big story was sterling. The British pound<\/a> continued to rise amidst speculation that the new UK Government are about to make a major U-turn regarding the budget.<\/p>

The news has also helped stabilize the GILTS markets in the United Kingdom. Most of the selling in sterling recently has been due to the disastrous UK budget.<\/p>

Other notable market moves included a drop in gold<\/a> and silver<\/a> prices and crypto. The price of Bitcoin fell towards the $18,000 level in the aftermath of the CPI report.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

The United States CPI inflation report came in stronger than expected earlier today, causing stock markets globally to take a notable downturn and for the US dollar to rise. Notably, the S&P500 crashed towards the 3,500 level and the Nasdaq continued its descent towards the 10,000 level. The DJIA also lost considerable ground. In Europe, […]<\/p>\n","protected":false},"author":4,"featured_media":16626,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[176,28,75,49,601,193],"yoast_head":"\nMarket Wrap - US CPI COMES IN HOT - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/market-wrap-us-cpi-comes-in-hot\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Wrap - US CPI COMES IN HOT Market Wrap - US CPI COMES IN HOT\" \/>\n<meta property=\"og:description\" content=\"The United States CPI inflation report came in stronger than expected earlier today, causing stock markets globally to take a notable downturn and for the US dollar to rise.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/market-wrap-us-cpi-comes-in-hot\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-13T14:07:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-10-13T22:13:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/10\/GettyImages-1341830603.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"509\" \/>\n\t<meta property=\"og:image:height\" content=\"296\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Market Wrap - 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