{"id":44063,"date":"2023-04-12T16:28:00","date_gmt":"2023-04-12T15:28:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=44063"},"modified":"2023-04-13T14:36:53","modified_gmt":"2023-04-13T13:36:53","slug":"market-wrap-cpi-bump","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/market-wrap-cpi-bump\/","title":{"rendered":"Market Wrap – CPI Bump"},"content":{"rendered":"\t\t
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Stocks<\/a> were mixed and the US dollar currency<\/a> moved lower after the latest US CPI revealed a further weakening in US inflation, further increasing the chances of the FED pulling back on rate hikes.<\/p>

Breaking down the data, the annual inflation rate in the US slowed for a ninth consecutive period to 5% in March of 2023, the lowest since May of 2021 from 6% in February, and below market forecasts of 5.2%.<\/p>

Food prices grew at a slower rate (8.5% vs 9.5% in February) and energy cost fell (-6.4% vs +5.2%), namely gasoline<\/a> (-17.4%) and fuel oil<\/a> (-14.2%). At the same time, prices for used cars and trucks declined once again (-11.6% vs -13.6%).<\/p>

On the other hand, inflation for shelter which accounts for over 30% of the total CPI basket, continued to march higher (8.2% vs 8.1%). Compared to the previous month, the CPI edged 0.1% higher, also below expectations of 0.2%, with higher shelter prices (0.6%) offsetting a 3.5% fall in energy cost. Food prices were unchanged.<\/p>

Core Consumer Price Inflation, which excludes food and energy, increased 5.6% on the year and 0.4% on the month as expected. The Fed does watch Core inflation very closely.<\/p>

The EURUSD<\/a> pair surged towards the 1.1000 area on the back of the soft print while the GBPUSD<\/a> attempted to move back towards the 1.2500 region, and the USDJPY<\/a> pair fell over US dollar weakness.<\/p>

Markets also await the Minutes from the March 21-22 meeting. This is set to be to be released later this afternoon and will shed new light on what sort of discussion was happening behind the scenes last month.<\/p>

It will also highlight whether officials were raising concerns about continuing to increase interest rates amid such financial instability.<\/p>

The March 2023 meeting of Federal Reserve officials was perhaps the most uncertain policy meeting for the central bank due to the collapse of Silicon Valley Bank and Signature Bank.<\/p>

With the banking sector in acute turmoil, it remained unclear up until the Federal Open Market Committee announced a quarter-point interest-rate hike whether the central bank would vote to tighten monetary policy again, or pause.<\/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":"

Stocks were mixed and the US dollar currency moved lower after the latest US CPI revealed a further weakening in US inflation, further increasing the chances of the FED pulling back on rate hikes. Breaking down the data, the annual inflation rate in the US slowed for a ninth consecutive period to 5% in March […]<\/p>\n","protected":false},"author":4,"featured_media":38887,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[18,42,20,193,67,22],"yoast_head":"\nMarket Wrap - CPI Bump - 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-cpi-bump\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Wrap - CPI Bump Market Wrap - CPI Bump\" \/>\n<meta property=\"og:description\" content=\"Stocks were mixed and the US dollar currency moved lower after the latest US CPI revealed a further weakening in US inflation, further increasing the chances of the FED pulling back on rate hikes.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/market-wrap-cpi-bump\/\" \/>\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=\"2023-04-12T15:28:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-13T13:36:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/12\/GettyImages-459200659.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"611\" \/>\n\t<meta property=\"og:image:height\" content=\"457\" \/>\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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