隔夜市场 等待关键的美国通胀数据

Markets await the key US inflation number, set to be released tonight. Inflation is expected to rise from 3.2%, to 3.6%, after steep falls over the last couple of months. The Federal Reserve will be watching this number closely, considering their first interest rate decision in two months next week. The Fed is expected to leave rates on hold, as inflation has been falling rapidly, but any change to his narrative will upset market stability. The ‘peak inflation’ assumption has underwritten the stock markets, but the recent rise in bond yields may suggest a surprise. Oil prices and energy continue to rise, thus adding inflationary pressures. The ECB is set to release their latest decision tomorrow, which is set to hold interest rates unchanged, although inflation data in European countries appears to have heated up. The EUR held above 1.0700, while the GBP fell back below 1.2500, following a rise in Unemployment.
 
Commodity currencies remain vulnerable, with the AUD struggling to hold above 0.6400, while the NZD slipped back below 0.5900. Commodity prices have been under extreme pressure as the expected Chinese economic resurgence, has failed to materialise. Markets await key US inflation numbers, with the CPI tonight and PPI tomorrow, which will drive market direction. Oil is surging towards $90 p/b and driving energy prices north, which has been at the heart of the European recession. Germany has been under enormous pressure for nearly two years and high interest rates rate only add to the economic crises.