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  • US Consumer Price Index - June 2024

    From bls.gov

    The Consumer Price Index for All Urban Consumers (CPI-U) declined 0.1 percent on a seasonally adjusted basis, after being unchanged in May, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.0 percent before seasonal adjustment. The index for gasoline fell 3.8 percent in June, after declining 3.6 percent in May, more than offsetting an increase in shelter. The energy index fell 2.0 percent over the month, as it did the preceding month. The index for food increased 0.2 percent in June. The food away from home index rose 0.4 percent over the month, while the ... (full story)

Added at 8:35am

  • Inflation falls in June for first time since 2020 as consumer price increases continue to slow

    From finance.yahoo.com

    A closely-watched report on US inflation showed consumer price increases further cooled during the month of June, according to the latest data from the Bureau of Labor Statistics released Thursday morning. The Consumer Price Index (CPI) declined 0.1% over the previous month and increased just 3.0% over the prior year in June — a deceleration from May's flat month-over-month increase and 3.3% annual gain in prices. Both measures beat economist expectations of a 0.1% monthly increase and a 3.1% annual gain. On a "core" basis, which strips out the more volatile costs of food and gas, prices in June climbed 0.1% over ... (full story)

deflation baby lmao
Quoting jordanvic
deflation baby lmao
You know the market loves making new highs........I expect another high on one of these S&P/NASDAQ/Dow Jones with this data.
The solution is (x).
Helping case for interest rate cute...nice one.
Great fake data for reelection campaign
so very bad CPI , not realistic
Follow price direction
Overall very soft, but the 3% threshold hasn't been broken.

CPI m/m was not as soft as it looks. To two decimals it came it at -0.056%.

Core CPI m/m was a little softer than it looks. To two decimals it came it at 0.065%

The energy index fell by 2.0% for the second consecutive month, with significant decreases in gasoline (-3.8%) and fuel oil (-2.4%). Despite this, the energy index increased by 1.0% over the past 12 months.

Used Cars and Trucks decreased by -1.5%



Motor Vehicle Insurance increased by 0.9%

The medical care index rose by 0.2% in June after a 0.5% increase in May. Increases were observed in the indexes for physicians' services, hospital services, and prescription drugs.

The shelter index rose by 0.2% in June, continuing its upward trend. The index for rent also increased by 0.3%, while the owners' equivalent rent index rose by 0.2%.

The food index increased by 0.2% in June. Food at home rose by 0.1%, while food away from home rose by 0.4%. Notably, the index for meats, poultry, fish, and eggs increased by 0.2%, and the dairy and related products index increased by 0.6%.
We must learn who is gold, and who is gold plated
EventsTrader Live Return This Year: na
Inflation is coming down but not in the stores .
Quoting EventsTrader
Overall very soft, but the 3% threshold hasn't been broken. CPI m/m was not as soft as it looks. To two decimals it came it at -0.056%. Core CPI m/m was a little softer than it looks. To two decimals it came it at 0.065% The energy index fell by 2.0% for the second consecutive month, with significant decreases in gasoline (-3.8%) and fuel oil (-2.4%). Despite this, the energy index increased by 1.0% over the past 12 months. Used Cars...
The wizard! How do you do it so fast? Thank you
FED can not avoid rate cut in September 2024. Investors will get out from USD bets. Gold has a chance to break out higher high today. Need some minor corrections. This year forecast for Gold 2500
japan finally on the move now it seems
Quoting blip
japan finally on the move now it seems
Action in time
The decline in shelter palys a key role in why the data came in less than expected. 0.4% in May vs 0.2% in June month-over-month. I am actually curious if the inflation data will rebound if FED announces rate cuts since it will increase house prices again which could increase shelter in the future.
Quoting Momofrmnyc
{quote} You know the market loves making new highs........I expect another high on one of these S&P/NASDAQ/Dow Jones with this data.
Indeed. Then again, even when CPI is higher it makes a new high. It just loves making new highs
I am waiting for USD/JPY bearish zone below 154.400
USD is dead.
Quoting fxx360
Inflation is coming down but not in the stores .
If you are suggesting that you aren't seeing prices drop, you do realize that inflation coming down simply means slower price INCREASES, right? Nothing is "supposed" to become cheaper.
Quoting Vancarbon
{quote} Looks like it was a buy the rumour , pump , then dump on cash open . Seen this price action before so was sceptical of the price action leading into the figures . When to start buying though is the question .
Indeed it was...and for once, I was ready. Although, the price action I was REALLY looking for was the run up in the overnight (extension of yesterday) and THEN a pop and drop in seconds on the number. This was flat all night and a pop, dip, rally to near highs (expected if an extension rally was going to continue pre market), and THEN a dump. Harder to trade that if you believed the number was bullish.

I am with you though ...when to re-enter is going to be interesting.

I will give example from the /nq

Taking the generic "one 10% pullback a year" cliche into considerations, there wouldn't be much of a stretch to see that type of slide in the /nq by the end of the month There exists horizontal support and a support TL around that -10% (19000ish) level. The problem is that requires a break of the 20day MA AND the 50day MA, the latter being the June line in the sand.

Nibbling on the way down is likely the most conservative strategy. The 61.8% retracemnt of the July move is stop #1 (20260 area). Next will be the 20day MA which fluctuates with time, but looks to be around that same level in the next day or two. These two taken together should serve as a bounce. I'll be entering here for a scalp (at minimum). Next stop are the late June/early July lows. Let's hope the speed at which that falls occurs takes a few days at least. If so, the 50day MA will consider with those lows, serving as a more confident entry point.

Beyond THAT, it's the 19000 area by end of month.

I won't go into other instruments, but I think you get the idea. Could be in for some pain near term.

My HOPE has been, and is finally paying off, that some of the battered down instruments (/RTY, /6j) will get some support out of a pull back in the overextended /nq and /es. I just did not anticipate so much of an upmove in the /RTY today. Got out of too much too early on Good Till Cancel orders that were popping off. Next time, I will be putting those in as conditionally triggered trailing stops, that's for sure

On the USD side, I defer to those more in the know.

Best of luck all!
Herson
What about gold ur target levels achived
Next what about gold levels
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