Trgi se umirjajo pred CPI v ZDA, inflacija na Kitajskem se umirja zaradi šibkejšega povpraševanja – MarketPulse

It’s been a relatively slow start to the week but there’s still plenty to look forward to, most notably the US inflation data on Wednesday.

Friday’s jobs report did nothing to level the debate on whether to pause at the next Fed meeting in two weeks. In fact, it may have even cemented another 25 basis point hike despite the NFP number falling short of expectations and, to the relief of many, well short of the ADP release.

Wage growth remains a concern and on that front, the report was hot. At 0.4%, the monthly increase was a little higher than anticipated, while the annual reading remained at 4.4% (after an upward revision to the May number) despite an expectation that it would drop to 4.2%. Markets now see another hike as being almost 90% likely which seems fair under the circumstances.

Weak Chinese demand sees inflation flatline in June

The data from China overnight paints quite the opposite picture. An economy struggling on the demand side, despite initially rebounding strongly following the abolishment of zero-Covid. Excess supply is causing deflation at the PPI level and even CPI is now flat on an annual basis.

This is more pronounced in goods, a trend we’re seeing elsewhere as services remain where the demand is, but even here we’re seeing more weakness than expected. Stimulus feels inevitable but so far it hasn’t been forthcoming enough and when it does arrive it will likely continue to be very targeted.

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Craig Erlam s sedežem v Londonu se je OANDA pridružil leta 2015 kot tržni analitik. Z dolgoletnimi izkušnjami kot analitik in trgovec na finančnih trgih se pri izdelavi makroekonomskih komentarjev osredotoča na temeljne in tehnične analize. Njegovi pogledi so bili objavljeni v časopisih Financial Times, Reuters, The Telegraph in International Business Times, pojavlja pa se tudi kot reden gost komentator na BBC, Bloomberg TV, FOX Business in SKY News. Craig je polnopravni član Društva tehničnih analitikov, Mednarodna zveza tehničnih analitikov pa ga priznava kot certificiranega finančnega tehnika.

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• vir: https://www.marketpulse.com/fundamental/markets-calm-ahead-of-us-cpi-china-inflation-flatlines-amid-weaker-demand/cerlam