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USD Holding Post-CPI Losses

FOREX
  • The USD index is holding the majority of the post-CPI weakness, with the greenback broadly flat against most others in G10. Markets watch today's PPI release for any further evidence of a slowdown in price growth, with M/M expected to slow to 0.6% (Prev. 1.0%) and 0.5% (Prev. 1.0%) for core.
  • AUD is the notable underperformer, putting AUD/USD toward first support at 0.7350, albeit well above the week's lows of 0.7316.
  • EUR/USD remains toward the top end of the week's range, but well within striking distance of the key support at 1.1704. A break below here would be resolutely bearish.
  • Weekly US jobless claims data takes focus going forward, with PPI numbers also crossing. Central bank decisions are also due from Mexico and Turkey, with former seen hiking 25bps, while the latter is seen unchanged.
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