Trader who called Fed cuts reveals why INR at 88.25 signals your next move
Key Points
- CPI is expected to drop to 2.9% YoY, affecting Fed interest ...
The Consumer Price Index is dropping today like a hot potato at a market picnic, and traders are positioning themselves like chess players who've had too much caffeine. With economists predicting headline CPI will hit 2.9% year-on-year, the Federal Reserve is basically holding a "Will They or Won't They" romantic comedy with interest rates.
The Indian Rupee opened at 88.25 against the dollar, which is financial speak for "we're cautiously optimistic but still sleeping with one eye open." Yesterday's Producer Price Index hinted that inflation might actually be behaving itself for once - a rare...
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