(News Bulletin 247) – The CAC 40 confirms its rebound and shows an increase of more than 1.4% after the publication of US inflation figures for July. The euro/dollar pair meanwhile remains at 1.10 dollars.

It was the most awaited publication of the day and even of the week, in this summer break on the markets.

In the end, the US inflation figures for July did not hold any surprises. To the delight of investors, who hope to see the Federal Reserve soften its position on its key rates in September.

In July, US consumer prices increased by 3.2% over one year, after 3% in June. An acceleration that left the market unmoved, since economists polled by the Wall Street Journal were expecting a figure of 3.3% over one year. Over one month, inflation was stable at 0.2% in line with expectations.

Core inflation, that is to say excluding food and energy prices, is also in line with the market consensus at 4.7%, according to data from the statistics and labor office. And it is above all less than the 4.8% for the month of June.

The CAC 40 consolidates its lead, gaining 1.4% around 3:30 p.m., against 0.9% just before these statistics published at 2:30 p.m. On the currency side, the euro is also maintaining its gains, or more precisely, the dollar is losing ground. The eurozone currency gained 0.4% against the greenback at $1.1021 after peaking at +0.75% in reaction to these US price data.

On Wall Street, the indices open higher after US inflation. The Dow Jones rose 0.8%, the Nasdaq and S&P 500 rose 0.7%.

The US inflation figures have overshadowed the other statistics of the day, namely the traditional weekly jobless claims, like every Thursday. Registration requests rose more than expected to 248,000 last week against a consensus of 230,000 requests.