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Investing.com - U.S. inflation data showed positive movement in May, as both the headline and core Consumer Price Index rose less than expected. The core and headline Consumer Price Index increased by 0.1% month-on-month in May, while economists had forecasted growth of 0.2% and 0.3%, while the pace in April was 0.2%.
Year-on-year, the Consumer Price Index rose by 2.4% against estimates of 2.5% and 2.3% in April. The Core Consumer Price Index, which excludes the volatile food and energy categories, increased by 0.1% last month against forecasts of 0.3% and 0.2% in April. The Core Consumer Price Index year-on-year was 2.8% against forecasts of 2.9% and 2.8% in April.
Markets stick to interest rate cut expectations despite declining inflation
The price of Bitcoin (BTC) increased by about 0.6% immediately after the news, trading at $109,800, up 0.3% over the past 24 hours.
Despite ongoing uncertainty about the path of inflation, the market remains confident that the Federal Reserve will begin to ease monetary policy later this year. According to the CME FedWatch tool, traders are fully pricing in two interest rate cuts, with the first expected in September and the second in December. Currently, new data this morning has not changed this assessment.
A review of traditional markets shows that U.S. stock index futures reflect previous declines and are now in the green by about 0.4% across the board. The yield on 10-year Treasury bonds fell by five basis points to 4.45%.
Updated on Wednesday, June 11, 2025, at 4:36 PM Cairo time. Positive news regarding U.S. inflation in May drives stocks up and Treasury yields down.
