US Consumer Inflation Expectations Rise to 3.7% in June, Highest Since September 2023

The increase in US consumer inflation expectations is reinforcing the outlook for interest rate hikes, making a short-term rise in the DXY highly likely. Higher inflation could support the dollar's value by increasing the probability that the Fed will maintain its tightening policy. However, a decline in risk appetite may lead to selling of some risk assets, causing short-term volatility in the dollar. Overall, rising inflation expectations could have a positive impact on the dollar, but other macroeconomic factors should also be considered.

USDTRY is trading sideways at 46.832, with the RSI at 51.7 in neutral territory. The MACD remains below its signal line, indicating weak short-term momentum. Rising US inflation expectations could provide some support for the dollar amid concerns that the Fed may delay rate cuts. However, since USDTRY movements are largely driven by local dynamics, the impact of this news may be limited. The price is hovering just above the 20- and 50-day moving averages, offering no clear directional signal.

NDX dropped 2.7% in the last 24 hours to 29,264, closing below its 20- and 50-day moving averages. The RSI at 41 indicates weak momentum, while the MACD remains below the signal line and in negative territory, suggesting short-term bearish momentum. Rising inflation expectations, now at their highest since September 2023, could weaken rate cut expectations and pressure tech stocks. Therefore, the downtrend is likely to continue in the near term.

The news indicates rising inflation expectations, which could weaken expectations for interest rate cuts. Gold prices are typically suppressed in a high-interest-rate environment. Although the RSI at 58.8 is in neutral territory, the MACD has just crossed below the signal line, signaling short-term weakness. The 0.5% decline in the last close confirms that momentum has turned negative. In the short term, the bearish trend prevails.