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Weekly Market Preview
Friday, Oct 06, 2023
This week, markets are bracing for a relatively light data schedule, but the but the significance of the data is paramount. All eyes on the release of US inflation figures of September, with particular attention on core inflation, which excludes energy and food items due to their susceptibility to global supply and demand dynamics.
Projections suggest that US core CPI is expected to decrease from 0.6% in August to 0.3% in September, with the core CPI YoY dropping from 4.3% to 4.1%. any lower than expected read reflects an effective inflation management by the Federal Reserve and could potentially lead to a delay in the anticipated 25bps interest rate hike scheduled for the November meeting. Furthermore, the US headline CPI levels are forecasted to decline from 3.7% in August to 3.6% in September.
Investors will be closely monitoring speeches by Federal Reserve members scheduled for this week. These addresses will provide valuable perspectives on the central bank’s long-term policy stance, especially regarding their expectations for the “soft landing” or the avoidance of a recession. Investors are also eager to gain an understanding of the Federal Reserve’s outlook of the possible rate cuts in the coming year. These insights will play a pivotal role in shaping market expectations and influencing trading decisions in the near future.
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