Here's what caused the red storm a little over an hour ago 👇

The dollar index jumped sharply on data on accelerating inflation in the US

Data on the growth of inflation in the US in January turned out to be worse than analysts expected. The index rose from 2.9% to 3%, recording acceleration for the fourth consecutive month

The dollar index reacted to this data with a sharp increase, rising from 107.5 points to 108 points. Gold and Bitcoin, on the contrary, fell sharply.

The last time the consumer price index (CPI) in the US decreased in the summer, reaching 2.4% in September, and after that inflation has accelerated for four consecutive months.

According to analysts' forecasts, CPI growth in January should have slowed down and remained at 2.9%

Such dynamics show that the Fed is unlikely to rush to lower the rate, as stated by the head of the regulator Jerome Powell on the eve of the release of the data.

At the same time, Donald Trump continues to insist that the rate should be lowered, as he believes this would be a good decision given his "tariff war". The US president wrote about this in Truth Social.