Daily Alert – Wednesday 13th September 2023: US Core inflation is going the wrong way

Mark NugentDaily Alert, Sept 2023

Daily Alert – Wednesday 13th September 2023: US Core inflation is going the wrong way

Good afternoon.

The fight against inflation is not over in the US. Core inflation on a month-by-month basis in August came in at 0.3% against an expectation of 0.2%, which was also the July number. The USD is rising, and the 10-year yield is falling. Markets still feel the Fed will pause in September.

I placed one trade last night: WTI long, as the price broke up through resistance. So far, it’s around breakeven.

The second major event of the week is tomorrow’s European Central Bank rate announcement, statement, and press conference. Once I have digested all that, I’ll send you a video. Talk tomorrow.

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