US CPI Financial News

Investing.com-- Most Asian stocks rose on Thursday after a bruising start to 2024, with focus squarely on key U.S. inflation data for more cues on interest rate cuts, while Japan’s Nikkei 225 index extended its run of stellar gains after hitting multi-decade highs this week.

inflation data that could influence the Federal Reserve's thinking on rate cuts, while the crypto world got a boost after exchange-traded funds (ETFs) to track bitcoin were approved in the United States. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.67% higher, on course to snap its seven-day losing streak. Japan's Nikkei breached 35,000 for the first time since February 1990 in a blistering start to the year, after rising 28% in 2023, its strongest yearly performance in a decade. The Nikkei was last up 1.9% at 35,085 on Thursday. On the other hand, China stocks loitered near 5-year lows as investor sentiment remained subdued.

The yen fell 0.9% on the dollar overnight and 1.2% on the euro after data showed workers' real wages shrank for a 20th straight month in November — confounding officials wishes to see wage gains before tightening policy. The yen was under gentle pressure at 145.55 per dollar in morning trade and hit a six-week low of 159.99 per euro. The euro bought $1.0974 and other majors were steady on the dollar with all eyes on the U.S.

By Ketki Saxena

XRP (-0.6%), and Dogecoin (-2.3%) were trading in the red, while BNB (7%), Solana (2.1%), Cardano (4.2%), and Avalanche (15%) were trading in the green. Meanwhile, the global cryptocurrency market cap declined by 0.21% to around $1.58 trillion in the last 24 hours. At 12.50 p.m., BTC was trading 1.1% lower at $41,786. In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, fell to $817 billion. Bitcoin has had a rough start to the week with a wick towards $40,300 today. It is now recovering and consolidating near $41,800. As market structure has not yet changed fundamentally, hopes of a rally towards $48,000 remain strong as we lead to the year's end, said Vikram Subburaj, CEO of Giottus Crypto Platform.

Investing.com-- Most Asian stocks rose slightly on Tuesday, recovering a measure of recent losses as investors hunkered down before key U.S. inflation data, while Chinese markets lagged following weak lending activity data. 

Hotter-than-expected US Consumer Price Index (CPI) inflation numbers did little the shift sentiment in the crypto market on Thursday.

rupee declined on Thursday as importers bought the U.S. dollar ahead of the release of consumer price index (CPI) data from the world's largest economy later in the day. The rupee settled at 83.2425 against the dollar compared with 83.1875 in the previous session, after having risen to a session high of 83.13. Most Asian currencies rose with the Thai baht leading the gains. The dollar index was little changed at 105.7, hovering near a two-week low, after minutes of the U.S.

In the wake of the Federal Open Market Committee's (FOMC) recent assertive commentary, Bitcoin price experienced a near 3% dip. 

Gold held firm near two-week highs on Thursday, as the U.S. dollar and Treasury yields stumbled on the Federal Reserve's cautious approach on interest rates and ahead of a key inflation report that could offer more clarity on future policy path. FUNDAMENTALS * Spot gold was up 0.1% at $1,874.49 per ounce by 0110 GMT, hovering near Wednesday's highest level since Sept. 29.

The Consumer Price Index (CPI) report for September 2023 is scheduled for release on Thursday, October 12, at 08:30 ET (12:30 GMT).

Amidst the release of the Consumer Price Index (CPI) data for August, the Bitcoin price prediction landscape is under scrutiny, prompting a critical question: Is it opportune to consider buying the dip? 

Last Friday, we cautioned that spot gold, which some investors tend to look at more closely than gold futures, could drop beneath $1,915 an ounce or alternatively run above $1,930. 

The economic calendar is full of key data from the US this week, which should make for a volatile week for all the major pairs. But the fact we also have an interest rate decision from the ECB to look forward to means the EUR/USD will be among the more active pairs, making it the currency pair of the week to watch.

By Samuel Indyk and Rae Wee

By Tom Westbrook

traders waiting on U.S. inflation data to signal that interest rates may have peaked. The yen notched its best day against the dollar in two months overnight, after Bank of Japan Governor Kazuo Ueda said policymakers might have enough economic information by year's end to determine that short-term rates will need to rise. The yuan had its best day in six months after authorities vowed to correct one-way moves and Reuters reported the central bank had stepped up scrutiny of dollar buying. Both, however, remain near their weakest levels of the year and with the yuan at 7.3022 per dollar in offshore trade and the yen last a little off Monday highs at 146.68 per dollar. Japanese government bonds remained under pressure on Tuesday, with 10-year JGB yields up 1 basis point to a fresh high of 0.71%. «The result of Ueda's comments was an intense move higher in Japanese swaps and government bond yields,» said Chris Weston, head of research at brokerage Pepperstone in Melbourne. "(It) is certainly constructive for yen longs.

By Tom Westbrook

A look at the day ahead in European and global markets from Brigid Riley

Gold rate today: On account of US dollar hitting 15-month low and US CPI date hitting two years low, gold prices witnessed strong bounce back in the week gone by. Silver prices too ascended and witnessed huge buying interest among the bullion investors. Gold future contract for August expiry on Multi Commodity Exchange (MCX) finished ₹95 per 10 gm higher at ₹59,334 levels.

Gold rate today: Following US dollar index slide to 15-month low on easing US inflation, gold price today ascended in early morning deals in Asian and Indian markets. Gold future contract for August 2023 expiry on Multi Commodity Exchange (MCX), yellow metal opened higher at ₹59,230 per 10 gm levels and went on to hit intraday high of ₹59,288 per 10 gm within few minutes of commodity market's opening. In international market, oscillating around $1,955 per ounce levels.