The prior week showed a surprising display of inflation, in that for consumers, it was less than expected. This is giving way to some optimism that inflation is on the right track to being under control.

On the other end of the spectrum, for producers, inflation had shown to be slightly higher than expected. But the far higher impact of the two reports is the Consumer Price Index.

The Federal Reserve had still stuck to their stance as from the last FOMC opting to withhold any rate reduction decisions until late in the year, but the data coming in largely on a positive note has changed the previously highly negative outlooks into a neutral stance.