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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EXECUTIVE SUMMARY
- Core CPI inflation is seen at 0.4% M/M in January with a survey skewed to a miss, holding at its recently revised rate for Dec after what was originally a 0.30% increase before new seasonal adjustment factors.
- Those SA revisions plus (known) revisions to CPI weights might muddy initial market reaction, potentially increasing volatility whilst the report is assessed.
- With some upward monthly drivers seen coming from typically volatile categories such as used cars and airfares, watch other components for a better clue of more sustained market reaction.
- Core services ex housing will continue to get extra attention after Chair Powell’s continued focus, especially after its upward revised 0.39% in December.
- Underlying strength could further stoke an already significant push higher in 2H23 Fed rate expectations whilst a miss in the context of storming payrolls would further downplay wage-price spiral risks.
PLEASE FIND THE FULL REPORT HERE:
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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