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Stock markets 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 weaker than expected at 3.0 percent in June. This has an impact on 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 inflation figures. Consumer prices rose by 3.0 percent compared to the same month last year, as the US Department of Labor announced in Washington. In the previous month the rate was 4.0 percent. On average, bank economists had expected a decline to 3.1 percent. The current rate is the lowest in just over two years. Core inflation, in which volatile energy and...
Stock markets 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 weaker than expected at 3.0 percent in June. This has an impact on 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 inflation figures.
Consumer prices rose by 3.0 percent compared to the same month last year, as the US Department of Labor announced in Washington. In the previous month the rate was 4.0 percent. On average, bank economists had expected a decline to 3.1 percent. The current rate is the lowest in just over two years. Core inflation, which excludes volatile energy and food prices, also fell from 5.3 to 4.8 percent.
Inflation data is currently of great importance for the US Federal Reserve's monetary policy. In June, the Fed took a break from its tightening course, which it had been pursuing since March 2022. However, another interest rate hike is expected at the next meeting at the end of July.
After the inflation figures were announced, the stock markets reacted positively. The German leading index DAX rose by 1.20 percent to 15,930 points, almost reaching the 16,000 point mark. The TecDAX rose by 1.14 percent and was about to open the US stock exchanges with another increase. The US indices were also friendly. Before the stock market opened, the Dow Jones was up 0.7 percent, the S&P 500 was up 0.8 percent and the Nasdaq tech exchange was up 1 percent.
The inflation figures also had a positive impact on gold, silver and cryptocurrencies. Gold and silver were up slightly before the announcement and rose 0.75 and 2.9 percent respectively afterwards. The cryptocurrencies Bitcoin and Ethereum also rose slightly.
The euro was stronger against the dollar and was at $1.102. According to the inflation figures, the euro rose to $1.1078.
The publication of the Beige Book this evening could cause further turbulence in the financial markets. In addition to the inflation data, the latest report on the economy will also be a topic of discussion in the Fed districts. Investors are hoping for further information about how inflation and the economy will develop in the USA and what trends are emerging in the labor market. This is crucial for how long and strong the interest rate increases in the USA will be.