U.S. consumer prices rose moderately in July and the annual increase in inflation slowed to below 3% for the first time in nearly 3-1/2 years, opening the door wider for the Federal Reserve to cut interest rates next month.
The dollar lost ground against its major peers, helping the euro to an eight-month peak, as the U.S.consumer price index showed inflation is subsiding, reinforcing expectations that Federal Reserve interest rate cuts are near.
Crypto.com has become the first cryptocurrency platform to secure an exclusive partnership with the UEFA Champions League. The multiyear partnership, which will see the centralized crypto exchange become an official global sponsor of the UEFA Champions League, was announced on August 14th.
Wall Street’s main indexes offered a mixed bag on Wednesday, as Alphabet and some megacap tech stocks traded lower but the latest inflation data reassured investors betting the Federal Reserve would start cutting U.S. interest rates next month.
The last session saw Google shares fall 1.2%. The Stochastic-RSI is giving a positive signal.
Google shares fell 1.2% in the last session.
The Stochastic-RSI is currently in the positive zone.
Support: 162.1933 | Resistance: 165.7133
U.S. stocks hit a near two-week high after a softer producer prices data reinforced bets of an interest rate cut by the Federal Reserve in September. Megacap and growth stocks gained, with Nvidia set to lead the charge for a second session, rising over 5%.
Boeing said it delivered 43 commercial jets in July, unchanged from the same month a year earlier when it faced supply chain hurdles, as the U.S. planemaker works to grow aicraft production under new CEO Kelly Ortberg.
The Euro rose 0.4% against the Dollar in the last trading session. The RSI is giving a positive signal.
EUR/USD gained 0.4% in the last session.
The RSI is currently in positive territory.
Support: 1.0901 | Resistance: 1.0958
