Analysts at Deutsche Bank suggest that today will be a key test for markets with US CPI set to dominate attention.
“The consensus doesn’t expect much to happen, but then again it rarely has for this data print over the last few years. The consensus forecast is again at +0.2% mom for the core for the 36th successive month. DB is at +0.25% mom so we think it could round up to 0.3%.”
“Given the recent risk sell-off, you’d have to say that there is scope for a decent relief rally on a softer number. Medium-term though, signs of higher inflation would be much worse for risk than softer inflation would be positive.”
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