FXStreet (Delhi) - Michael Every, Research Analyst at Rabobank, suggests that the US data yesterday suggested the economic status quo is shifting, yet questions again remain as to which way.
Key Quotes
“CPI rose 0.2% y-o-y headline and 1.9% core, the former one tick higher than expected, but industrial production then collapsed -0.2% vs. an expected 0.1% rise and has now fallen m-o-m for seven of the last ten months.”
“Nonetheless, the USD index rose to 99.6, testing back towards its March high, and suggesting the market is still expecting the Fed to hike. We should get more colour on that front today.”
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