The greenback and glued revenue market have been fast to shrug off the PPI knowledge. The euro is now again to pre-PPI ranges and the entrance finish of the yield curve is as properly with US 2s at 4.65% from a excessive of 4.72%.
EURUSD 10 minutes
Earlier than the PPI knowledge, I highlighted why I believed seasonal changes made for a fade commerce and that is precisely what unfolded.
I’d watch out from right here with Bostic and Daly nonetheless set to talk. The market is feeling sanguine about excessive inflation and a hawkish remark from both (notably Daly) might be a dagger.
