Reported 7 months ago
U.S. stocks rallied and the dollar dropped as cooler-than-expected inflation data fueled rate cut optimism ahead of the U.S. Federal Reserve's monetary policy meeting. Benchmark U.S. Treasury yields fell after the Labor Department's CPI report showed core prices growing at their slowest pace in over three years. The market expects the Fed to leave rates unchanged but eagerly awaits the release of the Summary of Economic Projections, anticipating insights on potential rate cuts. International markets also reacted positively to the news, with European shares and global stocks surging, while the dollar weakened against other currencies.
Source: YAHOO