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US Futures Lower Ahead Of Inflation Data

ByAvaTrade
AuthorAvaTrade
Published 06/18/2015, 06:01 AM
Updated 02/02/2022, 05:40 AM

US futures are trading lower this morning after dovish picture which Miss Yellen decorated yesterday. Lowering the growth forecast has jammed the trader’s appetite towards riskier assets. However, the Fed chair, has confirmed that rate hike will take place this year but the meticulous timing remain very much in play as she likes to keep things elusive. Nevertheless, the fed is very much data dependent and this will be the foremost focus for traders.

One element which Fed did not change and stood by it was the inflation outlook and their target which they kept the same. Therefore, the inflation data which is due later this morning will be of immense importance for investors. The dollar is on the relentless downward spiral since last night and could find some room to breathe if the data shows some improvement or at least matches the forecast of 0.5%. The forecast for the core CPI excluding more oil dependent element is for 0.25%, a lower reading as compared to the previous one which was at 0.3%.

The unemployment claims data is also due today at 12:30 GMT and the forecast is for 278K, once again a reading that is better than the forecast. This could bring life for the equity market along with dollar. Finally, it is the Philly Fed manufacturing index and the expectations are for a very stout number. The previous reading was at 6.7%, but given the most recent improvement in the employment market, which has pushed the wage growth, the expectations are that we will see some strong number this morning with the reading of 8.1.

Disclosure & Disclaimer: The above is for informational purposes only and NOT to be construed as specific trading advice. responsibility for trade decisions is solely with the reader.

by Naeem Aslam

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