Critical CPI Inflation Figures Today

Critical CPI Inflation Figures Today

Economists are expecting the U.S. Labor Department to report 7.7% CPI inflation in November, in-line with 7.7% in October and a peak of 9.1% in June. Economists are also projecting that core CPI inflation, which excludes volatile energy and food prices, gained 6.3% in November, in-line with 6.3% in the previous month.

The latest inflation reading comes after the Federal Reserve issued its fourth 0.75% interest rate hike in the past five months in November in its ongoing battle to bring down the highest U.S. inflation in roughly 40 years. So far, the Fed has had limited success in cooling down an overheating U.S. economy.

In addition to the CPI reading, investors will be watching closely on Wednesday, when the Federal Reserve releases its latest interest rate decision and accompanying commentary. Economists are expecting the Fed to raise interest rates by another 0.5% this week.

Later on Tuesday, British labour data is due, as well as surveys of German business conditions and sentiment.

Tuesday 13th December High Impact Events

The times below are GMT+2

12.00 – Europe – German ZEW Economic Sentiment
Potential instruments to Trade: EUR Crosses.

13.00– UK – BoE Gov. Bailey Speaks
Potential instruments to Trade: GBP Crosses.

15.30 – US – CPI m/m, CPI y/y, Core CPI m/m
Potential instruments to Trade: USD Crosses.

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