- US CPI: Soft headline inflation data will nudge the USD a bit lower again – Scotiabank
Market news
13 June 2023
US CPI: Soft headline inflation data will nudge the USD a bit lower again – Scotiabank
The USD is trading lower pretty much across the board versus the majors ahead of the US Consumer Price Index (CPI) report. Economists at Scotiabank discuss the greenback outlook ahead of the inflation data.
Data may show soft headline gains
Soft headline inflation data will nudge the USD a bit lower again after yesterday's gains as markets weigh every piece of evidence that could sway Fed thinking ahead of tomorrow’s decision.
Market sentiment has been leaning towards the idea of a ‘hawkish skip’ so USD selling is unlikely to extend too far for now. The broader decline in the USD underway since the late May peak is extending a bit more, however.
See – US CPI Banks Preview: Headline inflation is moderating, but underlying persists
Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimerOpen Demo Account & Personal Page