The technical view prevailed and the internals of the U.S CPI data were not encouraging. Core Services Inflation ticked higher. The Rent of Primary residences moved lower from prior month , rising 6.09% yoy, 0.36% mom (wt 7.71%) but the OER (Owners' Equivalent Rent) rose 6.23% yoy, 0.56% mom (wt 26.02%). The much awaited decline in Core Services Inflation and the Shelter Inflation eludes. Snapshot YoY MoM Prior YoY Prior MoM 2023 High 2023 Low CPI 3.11% 0.31% 3.32% 0.23% 6.36% 3.05% Food 2.56% 0.39% 2.73% 0.21% 10.13% 2.73% Energy -4.34% -0.91% -1.84% -0.21% 8.59% -16.68% Core CPI 3.87% ...
The specific focus of the Blog is on Global and Domestic interest rates and currencies market. I look at fundamentals to define my bias and corroborate that with a study of price action to put on high conviction trades. The views and opinions are those of author and author alone. ~ Author: Vaishali Bagchi