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Stocks, gold bounce after cooler US inflation; Fed imminent

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LONDON :Global shares rallied, while the dollar sank and gold surged on Wednesday, after data showed U.S. consumer inflation was a lot milder than expected in May, increasing the chances of a markets-friendly interest rate cut as soon as September. The Bureau of Labor Statistics said U.S.

FILE PHOTO: People walk on an overpass past office towers in the Lujiazui financial district of Shanghai, China October 17, 2022. REUTERS/Aly Song/File PhotoLONDON :Global shares rallied, while the dollar sank and gold surged on Wednesday, after data showed U.S. consumer inflation was a lot milder than expected in May, increasing the chances of a markets-friendly interest rate cut as soon as September.

Even though prices did not change on a monthly basis, inflation likely remains too high for the Federal Reserve to start cutting interest rates before September against the backdrop of a persistently strong jobs market. "While September may be on the table, today would have had to be the first of a handful of inflation data prints that went right, which it did," Lindsay Rosner, head of multi-sector investing at Goldman Sachs Asset Management, said.

Next up is the Fed rate decision. The central bank is not expected to make any change to interest rates at its policy meeting. Instead, the focus will be on whether it keeps three rate cuts in its"dot plot" projections for this year.

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इंडिया ताज़ा खबर, इंडिया मुख्य बातें

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