US CPI coming up next. Fed December rate hike pricing rises above 50% | Forexlive
US CPI core
CPI day is finally here with the US data due at the bottom of the hour.
The market has been making a hawkish shift ahead of the data, boosting the odds of a December Fed hike slightly above 50% and November not far behind. September is still seen at just 7% but with the ECB seemingly signalling a hike, the market is pricing in some groupthink.
The data will steer the market next but I suspect eyes are also on oil with WTI up another 40-cents today, ensuring that the September headline inflation number will continue to accelerate.
See:
US August CPI preview: Are we worried about now or later?