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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (128638)7/13/2022 9:14:16 AM
From: Goose94Read Replies (1) of 203353
 
Gold: U.S. inflation hits 9.1%

U.S. inflation surged even more than expected last month. The consumer price index shot up 9.1 per cent year-over-year in June; the median estimate was for 8.8 per cent. U.S. futures flipped into the red immediately after the data dropped, no doubt as traders suspect this could force the U.S. Federal Reserve to continue hiking rates aggressively. “A fed pivot … remains a long ways away,” said Wells Fargo Economist Michel Pugliese in his instant analysis with us. The price of West Texas Intermediate crude also slumped into negative territory after the American inflation figures were released. In its new assessment of the oil market, the International Energy Agency trimmed its demand-growth forecasts for this year and 2023, while cautioning that “rarely has the outlook for oil markets been more uncertain.”

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