US CPI Below Expectations at 3.5% Year-on-Year in June

The CPI coming in below expectations could increase optimism that inflation is under control and raise the likelihood of the Fed cutting interest rates. This may support risk appetite in the short term, triggering an upward move in the SPX. However, the RSI at 45 and the price remaining below the 20-day moving average suggest that the rally could be limited. The MACD is below the signal line, indicating that momentum has not yet strengthened. Overall, the positive news may partially offset the technical weaknesses.

Turkey's Consumer Price Index (CPI) coming in below expectations could increase optimism that inflation is under control and strengthen expectations for an interest rate cut. This could serve as a short-term positive catalyst for the tech-heavy NDX index. However, with the RSI at 38 and the MACD trading below its signal line in negative territory, any upside may be limited. The index also remains below its 20-day moving average (29,612), indicating a resistance zone. Therefore, while a bullish bias exists, caution is warranted.

The Consumer Price Index (CPI) coming in below expectations could reinforce the perception that the Federal Reserve is nearing the end of its rate hike cycle, putting pressure on the dollar. Although the RSI at 29 indicates oversold conditions, suggesting some potential for a short-term rebound, the overall trend remains bearish. The MACD line below the signal line and in negative territory confirms weak momentum. The price trading below both the 20-day and 50-day moving averages further darkens the technical outlook. In the short term, the dollar index is expected to continue its downward trend.