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Fundamental Analysis
Fundamental updates by Solid ECN
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[QUOTE="SOLIDECN, post: 214854, member: 80239"] [HEADING=1][JUSTIFY]Sentiment boosted in markets after US inflation data[/JUSTIFY][/HEADING] [JUSTIFY]Global financial markets were boosted after US inflation data that showed a slowdown in prices in October. It's the fourth consecutive monthly slowdown in consumer prices, asserting a move away from record 9.1% inflation in June, as the Fed's aggressive policy tightening moves finally show their impact. Bets on a 0.50% rate hike by the Federal Reserve in December rose from 67% to 85%, while bets on a 0.75% rate hike tumbled from 33% to 15%. [img]https://i.ibb.co/D1vKKhZ/dxy.png[/img] [/JUSTIFY] [HEADING=1][JUSTIFY]Inflation Data[/JUSTIFY][/HEADING] [JUSTIFY]US consumer prices rose 7.7% in October y/y, less than the expected 7.9%, and down from 8.2% in the previous reading. Core prices, excluding food and fuel, rose 6.3%, less than the expected 6.5%, and less than 6.6%5 in the previous reading. [/JUSTIFY] [HEADING=1][JUSTIFY]Global Markets[/JUSTIFY][/HEADING] [JUSTIFY]The dollar index slumped over 1.5% to 108.75, the lowest since September 13 against a basket of major rivals. Gold prices rose 1.75%, hitting two-month highs at $1,737 an ounce on track for the largest weekly profit since February. Most European stock rose to two-month highs while Wall Street stock futures rallied as well ahead of the official opening.[/JUSTIFY] [/QUOTE]
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