November Inflation Report: CPI Eases To 3.1% Annual Rate Ahead Of Fed Meeting
Portfolio Pulse from Piero Cingari
The November CPI report showed a slight decrease in the annual inflation rate to 3.1%, matching expectations. Core inflation rose to 4.1% annually. The report precedes the FOMC meeting and interest rate decision. Post-report, the Invesco DB USD Index Bullish Fund ETF (UUP) dipped, and S&P 500 futures fell slightly.
December 12, 2023 | 1:37 pm
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NEGATIVE IMPACT
The Invesco DB USD Index Bullish Fund ETF (UUP) experienced a dip following the release of the November CPI data, indicating a negative short-term impact.
The dip in UUP is directly related to the inflation data, which influences investor expectations on currency value and interest rates. The timing before the FOMC meeting adds to the relevance and importance, as investors may adjust their positions in anticipation of rate decisions.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80