US Oct CPI data now out 15 Nov
- 0.5% prev
- Core CPI mm 0.2% vs 0.2% exp vs 0.1% prev
- yy 2.0% vs 2.0% exp vs 2.2% prev
- Core CPI yy 1.8% vs 1.7% exp/prev
- real ave weekly earnings yy 0.4% vs 0.6% prev
- hourly earnings 0.4% vs 0.6%
Slight up tick in core CPI yy but apart from that not a lot to shout about on the inflation data that we didn't know but softer wages again also a concern.
All going to give the FOMC plenty to think about. Probably talked themselves into a Dec rate hike but just like BOE it's to create wiggle room to cut again when next crisis happens ( not if it happens)
US$ not liking the data and that sends USDJPY down to 112.48, USDCHF down to 0.9845 with EURUSD up to 1.1861 but GBPUSD struggling to take advantage.
- food index was unchanged in October following slight increases in August and September
- the energy index decreased 1.0 percent in October following increases in August and September
- the index for all items less food and energy increased 0.2 percent in October after a 0.1-percent increase in September
Full release here
