US Inflation Fails to Spook Wall Street as Household Net Worth Surges

The US core inflation reading for August surprised markets with a higher-than-expected figure, fueling hawkish concerns about a return of price pressures. However, Wall Street investors seem to be ignoring this threat.

US household net worth recorded an impressive increase of $12.803 trillion in the second quarter, confirming the exceptionally strong balance sheet position of American consumers. Despite ongoing macroeconomic challenges and high interest rates, the US private sector shows strong resilience to economic turmoil.

The EURUSD pair slid lower due to the European Central Bank's decision to hike interest rates, which failed to provide the euro with the expected upward momentum.