US November inflation data released

Investing.com - Consumer price index data was released in the US. US CPI data increased by 0.1% in November compared to the previous month. The annual increase was announced as 3.1%. The expectation was for monthly inflation to remain constant in November as it was the previous month. Accordingly, annual inflation was expected to be 3.1%. Core inflation data was realized as 0.3% monthly and 4% annually. While it was expected that consumer price data excluding energy and food prices would increase by 0.3% in November, it was expected that the data would remain in the 4% range on an annual basis. According to the announced data, core inflation came in within expectations, while the monthly CPI data was announced with a limited increase compared to expectations that it would remain constant. November inflation data remained constant on an annual basis following the employment data that came in above expectations last week, signaling that the economy continues to remain resilient. The fact that core inflation also remained constant at 4% continues to challenge the Fed's 2% inflation target. Following the announcement of the US inflation data, the initial reaction in the dollar index was downward, followed by an increase in dollar demand, with the DXY moving towards the 104 band. EUR/USD, on the other hand, was moving at the 1.08 resistance today, but with the announcement of the inflation data, it turned downwards and retreated to the 1.07 band. Gold, which started the day with slight gains, rose to $1,996 during the day and after the CPI data, it reduced its daily gain to 0.2% and started to move in the $1,980 band in the last hour. The USD/TRY parity continues its attempt to settle at the 29 level with a 0.3% increase on a daily basis.