020 7898 0500Yesterday saw a wave of US Consumer Price Index (CPI) data. The general mood of the figures was unremarkable, showing little to no deviation from the expected and modest improvements on the previous release. Core CPI (month on month) came in at 0.2 percent, as expected and the same as last month; year on year CPI came in as expected at 2.2 percent, up from 2.1 percent. These releases helped the dollar (USD) regain losses suffered earlier in the day.
A number of Federal Open Market Committee (FOMC) members were speaking including Federal Reserve chair Janet Yellen. The beige book (a report on the economic conditions of the 12 US federal districts) was released as usual, two weeks before the FOMC meets to discuss short-term interest rates.
Today sees a plethora of data releases, from building permits – expected at 1,225,000 – to housing starts and jobless claims, which are forecast at 1,200,000 and 254,000 respectively. Crude oil inventories are expected to fall 960,000 barrels. And speaking for the last time as the President-elect, we will hear from Donald Trump.
