Analysts at Rabobank suggest that the data menu Today mainly has price indices on it especially, the US inflation number will be watched closely as the minutes of the FOMC meeting of 19-20 September indicate that there is considerable debate within the Fed about whether the softening of inflation this year is due to one-time factors or has a more structural nature.
“Our “Fed watcher” Philip Marey mentioned that on balance, many FOMC members still think a rate hike is warranted. This means that if the incoming data are not sufficiently weak to change the Fed’s mind, we will shift our call for the next hike forward to December.”
“Meanwhile, US retail sales for September are expected to rebound from their weak readings in August.”
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