Last night at 9:30, the USA officially announced its October CPI data, with CPI increasing by 2.6% year-on-year, meeting market expectations, higher than the previous value of 2.4%, reaching a three-month high and stopping the 'six consecutive declines'.
Seasonally adjusted CPI increased by 0.2% month-on-month, in line with expectations, and remained unchanged from the previous value.
In terms of core CPI, it increased by 3.3% year-on-year, in line with expectations and consistent with the previous value; it increased by 0.3% month-on-month, in line with expectations and consistent with the previous value.
From a data perspective, most CPI data has maintained the previous level without rebounding, but the inflation level has not further decreased.
After the data was released, the market's expectations for a December rate cut by the Federal Reserve increased, rising from 60.3% yesterday to 82.8%.
However, the data market in capital markets does not seem to buy into this.
$XAU/USD (XAUUSD.CFD)$Only rising by $10 in the short term, it then fell again, breaking below $2600 once more and hitting a new low for the period.
The bond yield reflects a slightly stronger response. $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$It dropped sharply and then climbed to a new stage high.
Yesterday we said in the article that if the gold price can stabilize above $2600 after the CPI comes out, it would be appropriate to add some positions.
If the gold price remains high after the CPI comes out...