Thursday, September 12, 2024

European Inflation Bites Back

And our PPI comes in hot
 
   
     
______________________________________________________
Thursday, September 12th
______________________________________________________
“When I speak of poetry I am not thinking of it as a genre. Poetry is an awareness of the world, a particular way of relating to reality”

- Andrei Tarkovsky
______________________________________________________
Markets Today
 
 
🌏 Asia-Pacific: Down
 
🇪🇺 Europe: Up

🇺🇸 United States: Up

🛢️ Oil: Up

Crypto: Up
​​​​
______________________________________________________
Major Market Events 
 
 
PPI comes in mixed: The yearly numbers show a decline in producer inflation, but the monthly numbers show an increase (link)
 
​Inflation rising after rate cuts: In Europe, they preemptively cut rates. Now inflation is coming back (link)
 
Jobless claims rise: A rise, albeit small, in jobless claims (link)
______________________________________________________
🤔 My Thoughts 
 
 
The EU cut started cutting rates two months ago. Now, inflation is coming back. The U.S. PPI was released today, and it's rising Month-Over-Month. CPI is rising too. This is why I don't think rate cuts are coming. If Powell cuts, inflation will reaccelerate. The markets will be in for rude awakening next week when they realize the work has only just begun.  
To Better Trading,

Alex Reid
Wealthpin
 
WealthPin
   
     
   
 

No comments:

Post a Comment

First a 1,129% win in 2 days... Now this???

Trader Who Recently Livestreamed a Massive Win Reveals Powerful New AI... ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ...