标准普尔500指数周三上涨1%，纳斯达克指数飙升1.7%，而道琼斯指数收窄早盘涨幅，在持平线附近交易，因为交易员消化了低于预期的通胀报告。总体通胀和核心通胀均低于预期，为投资者提供了持续通缩进展的一些保证。然而，关税的影响尚未显现，未来几个月通胀可能再次攀升。与此同时，贸易战仍在继续，美国对来自加拿大、澳大利亚、欧盟和其他国家的钢铁和铝进口征收25%的关税，促使欧盟宣布对价值260亿欧元的美国商品征收报复性关税，该关税将于4月起生效。加拿大也将于今天宣布进一步的报复性关税。科技、非必需消费品和通信服务是迄今为止表现最好的行业，而消费必需品和健康表现不佳。英伟达（6.8%）、Meta（3.8%）、博通（5.1%）和特斯拉（8.3%）均录得强劲涨幅。

The S&P 500 added 1% and the Nasdaq soared 1.7% on Wednesday while the Dow Jones pared early gains to trade around the flatline, as traders digest a softer-than-expected inflation report. Both headline and core inflation came in below expectations, offering investors some reassurance about continued disinflation progress. However, the impact of tariffs has yet to be felt, and inflation could climb again in the coming months. Meanwhile, the trade war continues with a 25% US tariff on steel and aluminum imports from Canada, Australia, the EU, and other countries taking effect today, prompting the EU to announce retaliatory levies on €26 billion worth of US goods, set to begin in April. Canada is also set to announce further retaliator tariffs today. Tech, consumer discretionary and communication services were by far the top performing sectors while consumer staples and health underperformed. Nvidia (6.8%), Meta (3.8%), Broadcom (5.1%) and Tesla (8.3%) were booking strong gains.

美国：2月份CPI降温，但随着关税效应的持续，未来几个月可能会回升。2月份消费者价格指数（CPI）环比上涨0.2%，不到1月份月度涨幅的一半。在12个月的基础上，CPI上涨了2.8%（1月份为3.0%）。

US: CPI Cools in February, But Likely to Pick Up Over the Coming Months as Tariff Effects Take Hold  .The Consumer Price Index (CPI) rose 0.2% month-on-month (m/m) in February, or less than half of the monthly gain in January. On a twelve-month basis, CPI was up 2.8% (from 3.0% in January).

由于CPI疲软未能引发重大波动，美元走势艰难。尽管消费者价格指数报告比预期疲软，提供了通胀压力缓解的新证据，但美元在美国早盘仍难以找到明确的方向。年度核心CPI目前处于2021年以来的最低水平，这一发展应该会给美联储和市场带来一些缓解。

Dollar Struggles for Direction as Softer CPI Fails to Trigger Major Moves.Dollar is struggling to find a definitive direction in early US session, even after the softer-than-expected Consumer Price Index report offered fresh evidence of easing inflation pressures. Annual core CPI now sits at its lowest level since 2021, a development that should bring some relief to both the Fed and markets.

美元企稳，基调依然疲软——丰业银行。加拿大丰业银行首席外汇策略师Shaun Osborne指出，美元（USD）在本交易日整体上涨，但涨幅有限，价格走势表明DXY目前正在巩固最近的损失，而不是扭转。 

USD steadies, undertone remains weak – Scotiabank.The US Dollar (USD) is trading a little higher overall on the session, but gains are limited and price action suggests the DXY is consolidating recent losses, rather than reversing, at this point, Scotiabank's Chief FX Strategist Shaun Osborne notes.