Major U.S. stock indices surged on Thursday after a softer-than expected inflation report bolstered bets that the Fed will downshift to a slower tightening cycle.

Federal Reserve officials are out in force this week following last week’s 75 basis point rate hike.

Equity futures rally after US inflation data shows positive signs of easing. With S&P 500 gaining over 4% with Dax 40 roaring past 14000.

October U.S. inflation eased to 7.7% from 8.2% in September, well below expectations, a sign that price pressures are starting to moderate a more rapid pace than initially anticipated.

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BTC/USD faces an unprecedented storm as crypto markets remain on edge. Further downside remains a possibility.

The U.S dollar is trading marginally higher this Thursday ahead of U.S. CPI.

The ECB’s economic bulletin reiterated inflation is too high and higher rates to come. On a positive note, supply chains are improving, and energy prices have eased