FXStreet (Edinburgh) – Chief Analyst at Danske Bank Allan von Mehren remarks today’s releases in the US economy.
Key Quotes
“US CPI is the main release today. Our models point to an above-consensus core CPI of 0.3% m/m in June (consensus 0.2% m/m) following a low reading in May of 0.1% m/m. Core CPI momentum has edged higher in the past months. Note, though, that the Fed is targeting the PCE deflator, which has stayed subdued”.
“US Fed vice chairman Stanley Fischer (voter, neutral) speaks today on the Fed’s near-term and long-term priorities. Focus will be on any signals regarding the timing of a lift-off following Yellen’s slightly more upbeat tone in the semi-annual testimony. The bond market has remained resilient to the positive tone so far and is not pricing a full hike until January 2016. We continue to look for a hike in September”.
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