Mountain Tech Analysis

Market Report for Wednesday 14th September 2022

Last night the US released its CPI data as inflation edged higher for the August month at 8.3% y/y ,surprising analysts and signalling another rate rise.Analysts expected a lower reading of 8.1 % but that didnt happen.July inflation was at 8.5%.The markets are now pricing in a chance of 84% FED interest rate hike of 75 bps.

Indexes all around the world are down, ASX200 fell 200 points from its overnight price of 7000 , to the Sydney Open price of 6800.

SP500 is down to 2940 now from its highs of the release at 3150. Higher borrowing rates big tech conglomerates doesn’t bode well with the market. WTI stands at 87.5.