All eyes are on today’s US CPI report and judging by the White House Press Secretary’s comments the Biden Administration is gearing up for another sizeable inflation print. Get your market update from JMcQueenFX here:
Likely on Higher Than Expected US CPI PrintAll eyes are on today’s US CPI report and judging by the White House Press Secretary’s comments the Biden Administration is gearing up for another sizeable inflation print. As it stands, market consensus is looking for a reading of 8.8%, however, in light of recent comments made by the White House risks appear geared towards another upside surprise. Below is a comparison in comments made by the press secretary ahead of last month’s shock CPI reading.
However, the question is, does “highly elevated” mean 8.8% or say a 9-handle inflation print, because there would be a notable difference in the market's reaction. As a reminder, from a trader's point of view when comparing data, the most important factor is how it compares to market expectations. As such, would we see inflation above expectations, which would likely propel the
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