Last night, before the market opened, the U.S. Department of Labor released the important inflation indicator - CPI data.
The final data significantly exceeded market expectations and previous values.
In January, overall CPI increased by 1% year-on-year, surpassing market expectations of 2.9%, rising for four consecutive months, marking the largest increase since June 2024.
A month-on-month growth of 0.5%, higher than the market expectation of 0.3% and the previous value of 0.4%.
Core CPI year-on-year growth of 3.3%, higher than the market expectation of 3.1% and the previous value of 3.2%;
A month-on-month growth of 0.4%, higher than the market expectation of 0.3% and the previous value of 0.2%, the largest increase since March 2024.
After the data was released, U.S. stocks and Gold fell sharply, while U.S. Treasury yields surged.
However, the U.S. stock market and Gold performed relatively well. $Nasdaq Composite Index (.IXIC.US)$After opening lower, it rose and ultimately closed up 0.03%. $XAU/USD (XAUUSD.CFD)$After a short-term drop, it surged significantly, returning to above $2900.
It can be said that this CPI data had the greatest impact. $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ After the spike, it maintained at a high level.
Both the U.S. stock market and Gold began to rebound after being under short-term pressure.
Currently, inflationary pressure in the market is indeed present. After the data was released, the interest rate market's expectations for the Federal Reserve's first rate cut this year have been delayed from September to December, with only one rate cut expected this year....