Inflation Hangs Over Markets Despite July CPI Relief Rally

Global markets experienced a brief respite from inflationary pressures after July's Consumer Price Index (CPI) data revealed a 3.4% annual rise, matching economists' expectations.

This 'tame' inflation print eased fears of aggressive Federal Reserve tightening, leading to a notable rally in US equities and cryptocurrencies.

The S&P 500 rose by 0.30%, the Dow Jones Industrial Average edged up 0.11%, and the Nasdaq jumped 0.59%.

Ethereum reclaimed the $1,900 level, reflecting renewed risk appetite among investors.