Core cpi

Whilst Australian employment held up, it doesn’t let inflation off the hook as a weak print tomorrow could see rate cut calls resurface.

As far as the US CPI is concerned, this will be the last piece of major news before the Federal Reserve’s rate decision next week. So, unless it shows a surprisingly strong or surprisingly weak reading, it is unlikely to have any meaningful impact on the decision of the FOMC when it comes to monetary policy.

With three central bank meetings on the schedule today (see my colleague Fawad Razaqzada’s reports from earlier today for previews and recaps of the BOE, ECB, and CBRT meetings) , FX traders have been understandably focused away from the world’s reserve currency. However, dollar bulls who were keyed in on this week’s inflation data were no doubt dis...