US headline inflation rose for the second month in a row, boosted by surging gasoline prices, while core inflation met lowered expectations.

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The Yen’s appreciation proved to be short-lived as markets focus on a potentially higher inflation print in the US and further USD upside. EUR/JPY ranges before ECB

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​​Outlook on FTSE 100, DAX 40 and S&P 500 following a drop in tech stocks ahead of Wednesday’s US CPI data release.

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EURO Bulls received fresh impetus yesterday following news that the ECB may upgrade the forecast for 2024 inflation to above 3%. The result has seen rate hike expectation hawkishly repriced ahead of the US CPI release.

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GBP prices extended its decline today after UK GDP disappointed. Cable now looks to US CPI for guidance.

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