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July 11 - U.S. consumer prices unexpectedly fell in June and the annual increase was the smallest in a year, reinforcing views that the disinflation trend was back on track and drawing the Federal Reserve another step closer to cutting interest rates.
The consumer price index dipped 0.1% last month after being unchanged in May, the Labor Department said on Thursday. It was the second straight month of tame CPI readings, and could help to bolster confidence among officials at the U.S. central bank that inflation was cooling. In the 12 months through June, the CPI climbed 3.0% and followed a 3.3% advance in May. Economists polled by Reuters had forecast the CPI ticking up 0.1% and gaining 3.1% year-on-year.STOCKS: U.S. stock index futures turned 0.1% firmer, pointing to a steady open on Wall StreetBONDS: The 10-year U.S. Treasury yield tumbled to 4.183% and the two-year yield fell to 4.492%FOREX: The dollar index extended a fall to -0.83% and the euro extended its early rise to +0.
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