Market slows after US inflation data
The latest inflation data from the US mostly met market estimates, with an annual rate of 6.4% slightly higher than expected. The readings were still well above the Federal Reserve's inflation targets, so investors expected more rate hikes in 2023.
Meanwhile, USD/CAD moved up 4 pips to 1.3334, and USD/JPY rose 71 pips to 133.11. GBP/USD climbed 32 pips to 1.2170. Mitrade projected the UK inflation rate to rise by 10.3% year-over-year. EUR/USD added 15 pips to 1.0735, and AUD/USD gained 20 pips to 0.6985.
The stock market closed with mixed results. The Nasdaq 100 increased 88 points (+0.71%) to 12,590. The S&P 500 only slid 1 point (-0.03%) to 4,136, and the Dow lost 156 points (-0.46%) to 34,089.
Spot gold increased $1 at $1,854.47 an ounce, and WTI crude futures declined $1.00 to $79.06 a barrel. Bitcoin and Ethereum are trading higher at $22,126.0 and $1,547.71 respectively.
Meanwhile, USD/CAD moved up 4 pips to 1.3334, and USD/JPY rose 71 pips to 133.11. GBP/USD climbed 32 pips to 1.2170. Mitrade projected the UK inflation rate to rise by 10.3% year-over-year. EUR/USD added 15 pips to 1.0735, and AUD/USD gained 20 pips to 0.6985.
The stock market closed with mixed results. The Nasdaq 100 increased 88 points (+0.71%) to 12,590. The S&P 500 only slid 1 point (-0.03%) to 4,136, and the Dow lost 156 points (-0.46%) to 34,089.
Spot gold increased $1 at $1,854.47 an ounce, and WTI crude futures declined $1.00 to $79.06 a barrel. Bitcoin and Ethereum are trading higher at $22,126.0 and $1,547.71 respectively.
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