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Markets Await US Inflation Data to Determine Future Interest Rate Movements
The global markets are awaiting the release of U.S. inflation data for June, which serves as a key test ahead of the Federal Reserve's meeting in July. It is expected that the index will show a temporary decrease in inflation by 0.1% month-over-month, with the annual rate dropping to around 3.9%, due to lower gasoline prices following the ceasefire in the Gulf. However, core inflation remains above the central bank's target of 2.9%, with ongoing pressures in the services and housing sectors. There are warnings that this temporary decline could fade if oil prices rise again after the recent escalation between the U.S. and Iran. Analysts expect the markets to react based on the inflation results, where a decrease might lead to expectations of interest rate cuts, while persistent pressures could reinforce monetary tightening. The results from major banks are also pivotal in guiding market direction in the coming period.
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