US CPI m/m

Gold futures looked to generate momentum in the middle of the trading week after the US annual inflation rate matched economists’ expectations. Gold has struggled to sustain any direction, with investors monitoring the stock market boom and keeping an eye on the rocketing US Treasury yields. But gold might be taking advantage of a slowing buck and bond market. December gold futures rose $12.50, or 0.48%, to $2,618.80 per ounce at 13:26 GMT on Wednesday on the COMEX division of the New York Mercantile Exchange. Gold is down 2.6% over ...

US core inflation was on consensus and at 0.3% m/m SA remains too warm for achieving the FOMC goals. The estimates were on the screws, yet prompted a rally in rates that resulted in fed funds futures adding 5bps to December pricing that is now priced for about 18 of a 25bps cut and drove the 2-year Treasury yield lower by 11bps. How come? Either markets were braced for an upside surprise that a small minority in consensus had estimated and when that didn’t happen market participants pounced on the front-end. Or they listened to ...

Gold futures dip below $2,600 and stabilize following the release of CPI data. Phillip Streible discusses the precious metal as rate cut expectations shift.

A key measure of US inflation has risen for the first time since March, underlining its bumpy ride down to lower levels. The consumer price index (CPI), which measures price growth across a basket of goods, ticked up to an annual pace of 2.6% in October – from 2.4% in September, which had been the slowest rate in more than three years. Stripping out volatile food and energy costs, the closely watched “core” inflation index held firm at 3.3%. The reading was in line with economists’ expectations. Though inflation has fallen ...

The overall CPI rose 0.2 percent in September, bringing its year-over-year increase to 2.4 percent. The core index rose 0.3 percent, which brought its year-over-year rise to 3.3 percent. We are likely to see a further decline in monthly inflation in both indexes. The overall index was below the core last month due to a 1.9 percent decline in the energy index. We are likely to see a comparable drop in October. Food prices rose 0.4 percent in September, with store bought food prices rising 0.4 percent, compared to 0.3 percent for ...

US inflation probably moved sideways at best in October, highlighting the uneven path of easing price pressures in the home stretch toward the Federal Reserve’s target. The core consumer price index due on Wednesday, which excludes food and energy, likely rose at the same pace on both a monthly and annual basis compared to September’s readings. The overall CPI probably increased 0.2% for a fourth month, while the year-over-year measure is projected to have accelerated for the first time since March. “The October CPI report will ...

With all the turmoil, excitement, and even apprehension surrounding key developments of late it might be welcome that this week is likely to be a little more boring at least in terms of calendar-based macro risks. It’s hard not for it to be so when compared to recent developments including the US election, decisions by multiple central banks, significant macro data risk, earnings season, geopolitical developments and the resulting market volatility. The week’s main focal points will include a US inflation update, the possibility we ...