MILANO – Spotlights on American inflation after a series of sessions marked by uncertainty. This afternoon the US statistics office will release data for the month of July. Insiders expect a slight slowdown compared to the blaze in June, when prices rose 5.4% on an annual basis, but the figure, according to analysts’ expectations, should be positioned at 5.3%, with a growth on monthly basis of 0.5% from the previous 0.9%.
The price data is watched with particular attention by the markets because the Fed continues to judge the massive price hikes underway as transitory and therefore investors expect inflation to come back under control to prevent the US central bank from implementing measures. restrictive monetary policy to keep price increases at bay. The inflation data is also accompanied by robust signals from the US labor market, with 943 new jobs created in July from the expected 850,000.
However, among the members of the FOMC, the monetary policy arm of the Fed, the belief that it is above all the data on the labor market to be kept under control in order to make any decisions on tapering, i.e. the slowdown of the securities purchase plan. Raphael Bostic President of the Atlanta Fed yesterday stressed that “significant” progress on the employment front would be achieved with 1-2 months of strong increases, while the inflation condition is already met.
Europe approaches the appointment with a cautious rise. The US Senate’s okay to the infrastructural plan wanted by the American president also gave support to the price lists Joe Biden. However, the inflation theme remains central in Europe as well, in Germany prices rose by 3.8% in July, in line with expectations and confirming the preliminary estimates already released. Milano salt of 0.34%, London grows by 0.13%, Frankfurt 0.14% e Paris 0.29%. Contrasted the Asian lists, with Tokyo which closed at + 0.65%.
It remains stable spread between BTP and Bund: the differential is positioned at 101 basis points, compared to yesterday’s closing, with the yield of the Italian ten-year at 0.55%. Still slightly downhill theeuro, at a minimum of 4 months. The European currency changes hands at 1.1712 dollars and 129.69 yen.
The prices for the Petrolium: WTI crude oil changes hands at 68.27 dollars a barrel, not far from the values of last night in New York (68.94 dollars), Brent slightly up to 70.67 dollars a barrel.
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