According to analysts at TD Securities, US October CPI inflation came in largely on top of expectations, with headline CPI rising to 2.5% y/y thanks to energy and base effects.
Key Quotes
“Annual core inflation was a bit softer at 2.1% y/y, but the underlying monthly data suggest price pressures remain consistent with inflation around the Fed’s target. This report will not change the Fed’s plans to continue with gradual rate hikes.”
“FX: The USD was little changed following the data release. The USD is likely to stay firm for the time being with positive macro catalysts largely absent abroad and notable event risks in the coming weeks.”
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