May 04, 2022 - 12:16 PM 249 views
By the close of Tuesday's US session, the US inflation predictions, as measured by the 10-year breakeven inflation rate from the St. Louis Federal Reserve (FRED) data, had rebounded from a two-day low to 2.83 percent.
As traders prepare for the Federal Open Market Committee (FOMC) meeting, the inflation index rose from its lowest level since April 13th.
Late in April, the significant economic index reached a new high of 3.02 percent before dropping. Nonetheless, the rate is still well in favour of the Fed's expected hawkish decision.
It's worth noting, though, that the quote's recent climb joins the market's pre-Fed cautious mindset to weigh on market swings and assist the US dollar in regaining its footing. For this reason, commodities and antipodeans are under pressure ahead of the critical Federal Reserve (Fed) meeting.