U.S. CPI increased by 3.4% year-on-year in April, in line with expectations, major index futures rose in the short term

The U.S. Bureau of Labor Statistics (BLS) released data on Wednesday (15th) showing that the Consumer Price Index (CPI) in April increased by 3.4% year-on-year, in line with market expectations and slightly lower than the previous value of 3.5%. On a monthly basis, the increase was 0.3%, which was lower than the previous month. 0.4% higher than market expectations and the previous value.

The U.S. Bureau of Labor Statistics (BLS) released data on Wednesday (15th) showing that the Consumer Price Index (CPI) in April increased by 3.4% year-on-year, in line with market expectations and slightly lower than the previous value of 3.5%. On a monthly basis, the growth rate was 0.3%, which was lower than market expectations and the previous value. 0.4% of the value.
The inflation indicator favored by the Federal Reserve (Fed), the core CPI excluding food and energy costs, increased by 3.6% in April, in line with market expectations, lower than the 3.8% in March; on a monthly basis, the core CPI increased by 0.3% in line with the previous month. Market expectations were 0.4% lower than the previous March value.
U.S. core CPI cooled for the first time in six months, suggesting price pressures are waning and supporting the Federal Reserve\’s intention to keep interest rates higher for longer.
While the data may give the Fed some hope that inflation is resuming its downward trend, policymakers will want to see more data to gain the confidence they need to start considering rate cuts.
It is worth noting that after the data was released, the exchange rate market raised its expectations for the speed of interest rate cuts by the Fed this year.
After the report was released, the futures of the three major U.S. stock indexes rose in the short term. The S&P 500 index futures rose 0.54%, the Nasdaq 100 index futures rose nearly 0.6, and the Dow Jones futures rose nearly 0.5%. The U.S. dollar index fell temporarily to 104.675 in the short term.
The Japanese yen extended gains against the U.S. dollar, appreciating 1.1%; the U.S. 10-year Treasury bond yield fell to 4.414%, and gold futures prices rose 0.24% to $2,365.50 per ounce.

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