(News Bulletin 247) – Following inflation figures very close to the consensus, the Parisian index gained momentum while the euro zone currency jumped against the dollar.

Soon the 7,500 points for the CAC 40? The Parisian index is approaching in any case with great strides this Wednesday following the publication of inflation figures in the United States for the month of March.

In the third month of the year, the consumer price index, the best-known measure of price increases, rose 5% year on year, its weakest year-on-year increase since May 2021. “core” inflation, ie excluding energy and food prices, stood at 5.6% in the third month of the year.

These data are in line with the expectations of economists surveyed by the Wall Street Journal who expected an average increase of 5.1% over one year for the benchmark index and 5.6% for the “core” index.

Following these figures, the CAC 40 accelerated its progress taking 0.7% around 2:45 p.m. The Parisian index hit a historic high in the session, at 7,463.67 points, around 2:35 p.m., just after the publication of these figures.

Gold is also on the rise

The euro took off against the dollar, gaining 0.6% against the US currency at $1.0975. The Eurozone currency briefly rose above $1.099. Gold also jumped and took 1.2% to 2,043 dollars an ounce.

“The US Inflation report finally brought positive news to market participants who are now cheering the Consumer Price Index numbers. [l’inflation aux Etats-Unis] today, because the Fed [Réserve fédérale américaine, NDLR] has little room to manoeuvre,” commented Naeem Aslam of Zaye Capital.

“The data has now confirmed that the Fed does not need to work as hard as it has been, and that now is the time to ease interest rate hikes,” he adds.