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Gear up for negative reading of US CPI – TDS

FXStreet (Delhi) – Prashant Newnaha, Rates Strategist at TD Securities, suggests that the
highlight of today’s session is Sep CPI and we are looking for -0.2%/m in the headline index via lower gasoline prices, while core should advance by +0.1%/m.

Key Quotes

“We look for annual headline inflation to slip into negative territory (+0.2% to -0.1%/y) while core inflation should hold firm at +1.8%/y (all as mkt expects).”

“While CPI is the highlight, don’t ignore initial jobless claims for w/end Oct 10 where we attach considerable downside to mkt 263-270K and see a modest improvement from 263K to 260K via favourable seasonals.”

“We also see the Empire Manufacturing Index (mkt -8.0) and the Philli Fed Index (mkt -2.0), both for October.”

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