BOC: Gov Macklem Emphasizes Uncertainty Amid Trade War
Mar-12 14:57
Gov Macklem is asked at the post-decision press conference what kind of inflationary impact the Bank...
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US OUTLOOK/OPINION: Unrounded Core CPI Estimates Centered On 0.3% M/M
Feb-10 14:41
- Due Wednesday at 0830ET, consensus sees core CPI inflation at a seasonally adjusted 0.3% M/M in January.
- The below unrounded estimates are firmly centered on that with a median 0.30% M/M or average 0.29% M/M, with a range of 0.22-0.37% M/M. It would be an acceleration from the 0.23% M/M in December, assuming no revisions in the annual update due to be released simultaneously.
- The limited early estimates for core PCE inflation at this stage average 0.29% M/M in January for a firmer acceleration from the 0.16% M/M in December.
- Whilst these estimates would see core CPI right on the cusp of rounding either to 3.1% or 3.2% Y/Y after the 3.24% Y/Y in December, well-known base effects would see a larger moderation in core PCE (from 2.79% to 2.58% Y/Y in the hypothetical case with no revisions).
USD: USDJPY is paring gains
Feb-10 14:38
- Worth keeping an aye on the USDJPY, Bond futures are extending gains, Yields are moving lower.
- The USDJPY saw another volatile overnight session, a function of the Dollar on US Tariffs risks, and had already printed a 151.16 low Overnight, although the initial support is still seen at 150.93 Low Feb 07.
- USDJPY is down to 151.65 at the time of typing.
US TSY FUTURES: BLOCK: March'25 5Y Buy
Feb-10 14:35
- +6,800 FVH5 106-16.75, buy through 106-16.5 post time offer at 0927:48ET, DV01 $280,000. The 5Y contract trades 106-17.25 last (+2.5).
