07.10.2022
Chicago 12, Melborne City, USA
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US stock index futures decline on mixed US CPI data

US stock index futures lost about 1% on average after the release of US CPI data for April. Earlier, index futures increased by more than 1%.

According to the latest data, consumer price inflation in the US has reached 8.3%, exceeding the projected 8.1% but well below 8.5% reported in March. Month-on-month, inflation has increased by 0.3% in April, surpassing March’s 0.1% and the forecasted 0.2% increase.

The US dollar has found some brief support in these data. With index futures sliding down after the CPI data release, the market reaction at the opening bell in the US would be important.

Price dynamics in the market would be significantly influenced by the rhetoric of Fed board members and investor reaction to inflation data. If market players assume the CPI data indicates that inflation is stabilizing, it would send stock indexes upwards, push USD down, and increase demand for commodities.

The material has been provided by InstaForex Company – www.instaforex.com

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