On the SPOT™ blog (08/10/2023) [H..]

July CPI number appears to be inline with estimates. Core CPI (excluding food and energy prices) also seems to be inline with estimates. Albeit expected, CPI number showed a slight increase compared to June. No wonder one of the Feds officials reiterated that they still have work to do on inflation front and had not yet made a decision on whether to raise rates (at September FOMC meeting) and how long to keep them there. I stppose there is still time for that meeting and more data will come out that might help clarify the probability of rate hike in September. All three major US indices are in the green this morning (PST) although they are no where close to the season highs.

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