July 13, 2024 – Written by David Woodsmith
Leave a comment STORY LINK US Inflation of -0.1% Drops Dollar Exchange Rates
US CPI in June was expected to be soft, but the readings were even better than estimates.
Taken in context of Fed Chair Powell’s comments this week, a rate cut is now almost certain in September.
Stocks have been higher every day this week and are set for further gains, while the US dollar has dropped to the June lows.
Thursday’s US CPI report had a lot to live up to as US stock markets have been climbing higher all week and the S&P500 closed Wednesday’s…
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