US CPI Data came out slightly weaker than expected locking in a rate cut at next month’s Fed meeting, although the size of the move still remains in debate. US stocks rose again with the Dow topping the 40k mark. US treasury yields experienced a mixed day after the key data release and the dollar drifted higher on the index.
Oil prices dropped on a surprise rise in US stockpiles and Gold again dropped off near historic highs as more profit taking flow hit the market.
It is set to be another busy day for traders today, there are key data updates across the trading sessions which should add more volatility as investors continue to digest last night’s inflation update out of the states.
| Market | Change | Close |
| Dow | +0.61% | 40,008 |
| S&P | +0.38% | 5,455 |
| Nasdaq | +0.03% | 17,192 |
| USD | +0.05% | 102.60 |
| US Treasury – 2 Year | +1.2 bps | 3.954% |
| US Treasury – 10 Year | -2.6 bps | 3.828% |
| Oil – Brent | -1.15% | $79.76 |
| Oil – WTI | -1.80% | $76.98 |
| Gold | -0.78% | $2,447 |
Today’s Events (AEST):
Asian Session
- 9.10 am – New Zealand – RBNZ Governor Adrian Orr Speaks
- 11.30 am – Australia – Employment Data
- 12.00 pm – China – Industrial Production and Retail Sales Data
European Session
- 4.00 pm – UK – GDP Data
- France – Bank Holiday
- Italy – Bank Holiday
US Session
- 10.30 pm – US – Retail Sales Data
- 10.30 pm – US – Weekly Unemployment Claims Data
