Downside surprise for core inflation to trigger a deeper USD sell-off – MUFG DollarIndex CPI Fed Banks
for October could prove pivotal for the US Dollar in the near-term especially as it is currently threatening to break lower. A downside surprise could trigger a deeper sell-off, economists at MUFG Bank report.“Market participants will be closely scrutinizing today’s report to see if there is any evidence that underlying pressures are beginning to ease as well given that the headline rate has already peaked back in June at just over 9%.
“We continue to believe that the USD could prove more sensitive to downside surprise for core inflation triggering a deeper sell-off, while another firm reading would offer some much-needed support right now.” Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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