OfficailBLOG
  1. BigBoss
  2. blog
  3. Daily News
  4. US inflation level generally as expected: USD fell from its one-year high; Evergrande crisis widens and led to property shares drop in China

US inflation level generally as expected: USD fell from its one-year high; Evergrande crisis widens and led to property shares drop in China

The DXY Index fell from its one-year high overnight, currently trading at 94.06. The impact largely came from the latest data which showed that US inflation rose solidly and generally as expected last month. CPI rose by 0.4% on a monthly basis. The expectation was at 0.3%. On a yearly basis, it increased by 5.4%, versus prior release at 5.3%. Core CPI, which excludes food and energy, climbed 0.2%, versus 0.1% in August.

In China, shares of Chinese real estate firms slid today, as Evergrande’s crisis widened. The company owes more than $300 billion and has 1,300 real estate projects in over 280 cities. It just missed the third round of interest payments on its international bonds this week, creating concerns among investors. So far it has managed to sell some assets to raise funds, but the progress has been limited. USDCNY increased by 0.17% and trades at 6.4388 at press time.