They announce inflation in the US
Annual consumer inflation in the US remained below expectations at 4.9 percent in April. Experts expected annual inflation of 5 percent. Monthly consumer inflation in the country was in line with expectations at 0.4 percent.
While the data pointed to a moderate decline in core inflation, headline inflation was in line with expectations.
PARALLEL CORE INFLATION EXPECTATIONS
Consumer prices (core inflation), excluding food and energy, were 0.4 percent monthly and 5.5 percent annually in April.
On the other hand, core inflation expectations were 0.4 percent monthly and 5.5 percent annually.
GOLD, BITCOIN AND EURO RISE
After the data was released, gold prices rose sharply. The price of an ounce of gold, which was at the level of 2,026 dollars before the announcement of the data, rose to 2,045 dollars after the data. Gold gram prices rose to 1284 TL.
The euro/dollar pair, on the other hand, started to rise after the data was announced. The pair rose to 1,098.
Bitcoin, which was at the $27,715 level before the data was announced, broke above the $27,900 level after the data was released.
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
