On Tuesday, February 13, 2024 at 5:30 PM (Dubai time), the Bureau of Labor Statistics is set to release a crucial inflation indicator, the Consumer Price Index (CPI) y/y, in the U.S.
Here’s a look back at previous readings:
|
Date |
Actual CPI y/y |
Forecast CPI y/y |
USD index % Change |
|
Sep 13, 2023 |
3.7% |
3.6% |
0.22% |
|
Oct 12, 2023 |
3.7% |
3.6% |
0.90% |
|
Nov 14, 2023 |
3.2% |
3.3% |
-1.53% |
|
Dec 12, 2023 |
3.1% |
3.1% |
-0.23% |
|
Jan 11, 2024 |
3.4% |
3.2% |
-0.07% |
Historically, when the actual figures surpass the forecast, the U.S. Dollar index experiences a rise in the aftermath of the economic indicator’s release.
Conversely, if the actual figure falls short of expectations, the U.S. Dollar index tends to decline following the news release.
The market anticipates a decline, with expectations shifting from 3.4% to 2.9%.
Should the actual result align with these expectations, it would mark the lowest figure since April 13, 2021, signaling easing inflationary pressures.
Based on historical data, this scenario could most probably cause the U.S. Dollar to decrease, following the news release.
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