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▫️ US consumer inflation slowed to 2.9%, and producer prices slowed to 2.2% y/y;
▫️ This is below average forecasts but above the Fed's target and does not justify an aggressive rate cut;
▫️ Investors' and the Fed's attention has returned to the labour market, but the dynamics of final demand should not be overlooked.
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▫️ US consumer inflation slowed to 2.9%, and producer prices slowed to 2.2% y/y;
▫️ This is below average forecasts but above the Fed's target and does not justify an aggressive rate cut;
▫️ Investors' and the Fed's attention has returned to the labour market, but the dynamics of final demand should not be overlooked.
Read more
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Forex - US inflation hardly justifies a 50 b.p. cut | Market Overview
The US inflation report was in line with expectations, showing a 0.1 percentage point slowdown in July to 2.9% y/y for the headline measure and 3.2% ...