U.S. inflation data

U.S consumer prices fell in December for the first time in more than 2-1/2 years as prices fell for gasoline and other goods, suggesting inflation was on a ...

Louis Fed President James Bullard said the inflation data was a step in the right direction and the U.S. The market is pricing in a 96.2% chance of a 25 basis point hike, up from 76.7% on Wednesday. Crude prices rose in the wake of the data, getting an additional boost from optimism over China's emergence from its COVID-19 restrictions creating additional demand.U.S. Richmond Federal Reserve president Tom Barkin echoed the sentiment about the data and said it allowed the Fed to "steer more deliberately". Still, a separate reading on the labor market showed weekly initial jobless claims came in at 205,000, below expectations of 215,000. On Wall Street, equities were choppy after the data, with the S&P 500 falling as much as 0.8% and then rebounding. banks, kicking off the fourth-quarter earnings season for S&P 500 companies. A gauge of global stocks climbed on Thursday while longer-dated U.S. economy was primed for disinflation this year, but the road back to the central bank's 2% target would be bumpy. Many market participants are looking for signs of weakness in the labor market as a signal of slowing inflation. U.S consumer prices fell in December for the first time in more than 2-1/2 years as prices fell for gasoline and other goods, suggesting inflation was on a sustained downward trend. Treasury yields and the dollar fell after a reading of consumer prices fed expectations the Federal Reserve may have leeway to scale back the size of future interest rate hikes.

Oil prices have also been buoyed by a slide in the dollar to a nearly nine-month low after data showed US inflation fell for the first time in 2-1/2 years, ...

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The S&P 500 added 0.3%, while the Dow Jones Industrial Average gained 0.6%. The technology-heavy Nasdaq Composite Index rose 0.6%. Consumer-price inflation ...

Crude-oil prices slipped in early Asian trade after gains in the previous session, following the release of soft U.S. Crude-oil prices are likely to be up for the week, said Charu Chanana, a market strategist from Saxo in a note. The risk-on tone for the commodity is due to China's steady commitment to reopen its economy and Chinese buyers becoming more active in the physical market after import quotas were increased, she added. AUD/JPY dropped 0.2% to 89.84 and EUR/JPY was down 0.2% at 139.99. Gold prices were a tad higher in early Asian trade, slightly extending gains, following the release of U.S. However, given that gold prices have been climbing steadily since November, they could run out of momentum in the short-term, Oanda market analyst Edward Moya said in a note. The data showed that inflation is starting to cool, which could indicate that the U.S. Hong Kong's Hang Seng Index edged 0.2% higher to 21564.40 in early trade, supported by Wall Street gains overnight as sentiment was buoyed by upbeat inflation data. Consumer-price inflation slowed to 6.5% in December, down from 7.1% in November, the Labor Department said. The Hang Seng Tech Index was little changed at 4485.64. The Nikkei Stock Average was down 0.5% at 26312.40 in early trade, dragged by falls in auto stocks, as the yen strengthened against the dollar. USD/JPY was at 128.94, down from 131.63 as of Thursday's Tokyo stock market close.

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The consumer price index reading on Thursday is the key event for investors this week, though analysts warned that an above-forecast reading would deal a ...

"Energy traders should get used to seeing oil prices head higher," said OANDA's Edward Moya. However, SPI Asset Management's Stephen Innes said: "Recent surveys suggest that the first wave has already peaked in China. The consumer price index (CPI) reading on Thursday is the key event for investors this week, though analysts warned that an above-forecast reading would deal a hefty blow to confidence on trading floors. Last Updated: 12th January 2023 03:18 PM Published: 12th January 2023 03:18 PM The consumer price index reading on Thursday is the key event for investors this week, though analysts warned that an above-forecast reading would deal a hefty blow to confidence.

Sterling made marginal gains on Thursday against the dollar and the euro, as attention remained on U.S. inflation data due later in the session for clues on ...

"A lack of optimism surrounding the outlook (could) keep GBP soft for now," Mizuho senior economist Colin Asher said in a note. LONDON, Jan 12 (Reuters) - Sterling made marginal gains on Thursday against the dollar and the euro, as attention remained on U.S. Register for free to Reuters and know the full story Gold prices ticked higher on Friday and were on track for a fourth consecutive weekly gain, supported by a weaker dollar and expectations of slower interest rate hikes by the U.S. The pound was up 0.18% to $1.21650 and was 0.11% higher against the euro, trading at 88.430 pence . inflation data due later in the session for clues on future rate hikes in the world's largest economy.

Keeping prices from moving higher, however, was a hefty and unexpected jump in American crude oil inventories. (Representative Image). Oil prices rose by more ...

Weakness in the U.S. The U.S. 5 could be more disruptive than the EU ban on seaborne imports of crude oil from Russia implemented in December 2022. Energy Information Administration said the upcoming EU ban on seaborne imports of petroleum products from Russia on Feb. Top oil importer China is reopening its economy after the end of strict COVID-19 curbs, boosting hopes of higher oil demand. West Texas Intermediate crude gained $1.26 cents, or 1.6%, to $78.67.

Slowing U.S. inflation provides an impetus for oil. · Lower gasoline prices contributed to a lower CPI figure. · The annual inflation rate in December 2022 was ...

EST, and WTI trading at $78.34, up 1.20% on the day. The December decrease is largely due to the index for gasoline, which offset other increases. Oil prices are trading up Thursday following the release of U.S. The food index saw a 0.3% increase over December, while the energy index saw a 4.5% decrease for the same time period. The CPI-U (the price index for All Urban Consumers) declined 0.1% in December on a seasonally adjusted basis, following a 0.1% increase in November, according to the inflation data for December, showing a continued slowdown in the Consumer Price Index (CPI) climb and an annual inflation rate that was the slowest since October 2021.

U.S consumer prices fell for the first time in more than 2-1/2 years in December amid declining prices for gasoline and motor vehicles, offering hope that ...

The rent measures in the CPI tend to lag the independent gauges. Excluding the volatile food and energy components, the CPI climbed 0.3% last month after rising 0.2% in November. A separate report from the Labor Department on Thursday showed initial claims for state unemployment benefits fell 1,000 to a seasonally adjusted 205,000 for the week ended Jan. The unemployment rate is back at a five-decade low of 3.5%. The CPI rose 0.1% in November. The annual CPI peaked at 9.1% in June, which was the biggest increase since November 1981. Price pressures are subsiding as higher borrowing costs cool demand, and bottlenecks in the supply chains ease. That was the smallest rise since October 2021 and followed a 7.1% advance in November. In the 12 months through December, the CPI increased 6.5%. The cost of food consumed at home increased 0.2%. "The mountain peak of inflation is behind us but the question is how steep the downhill is," said Sung Won Sohn, finance and economics professor at Loyola Marymount University in Los Angeles. The report could allow the Federal Reserve to further scale back the pace of its interest rate increases next month.

Growing confidence in China's recovery and mounting evidence of cooling US inflation buoyed crude prices for a sixth day.

The report bolstered risky assets with traders betting the Federal Reserve will slow the pace of rate hikes as inflation cools. West Texas Intermediate rose 1.3% to settle above $78 a barrel for the longest run of daily gains since February. [fell](https://www.bloomberg.com/news/articles/2023-01-12/us-inflation-cools-again-giving-fed-room-to-downshift-on-rates) 0.1% in December, the first monthly decline since 2020.

HONG KONG: Asian markets mostly rose again Friday (Jan 13) and the dollar remained under pressure after data showing another slowdown in US inflation ...

But we all know that the impact of tightening financial conditions is yet to bite, in terms of unemployment," she said in a briefing on the world economy. Advertisement

Oil prices gained about $1 a barrel on Thursday, supported by figures showing U.S consumer prices unexpectedly fell in December and by optimism over China's ...

5 could be more disruptive than the EU ban on seaborne imports of crude oil from Russia implemented in December 2022. "Other than the China factor and recent lift in the equities amidst some weakening in the dollar, the complex doesn't appear to possess much bullish impetus, especially when viewed within the context of transparent U.S. "Crude Oil is now feasting on the weak dollar." Energy Information Administration said the upcoming EU ban on seaborne imports of petroleum products from Russia on Feb. consumer prices boosted bets for slower Federal Reserve interest rate hikes. 6 to 439.6 million barrels. Analysts polled by Reuters had expected a 2.2 million-barrel drop. The U.S. West Texas Intermediate crude settled at $78.39 a barrel, gaining 98 cents, or 1.3%,. Brent crude settled at $84.03 a barrel, rising $1.36, or 1.7%. Register for free to Reuters and know the full story Also boosting oil, the U.S.