US Inflation: something for everyone
• US CPI. Headline inflation slowed a bit more than expected, but core inflation remains high. The conflicting signals generated intra-day volatility.• Softer USD. The USD lost some ground. But will it last? Sticky US core inflation points to another Fed rate hike. Rate cut pricing for later this year looks misplaced.• AUD mixed. AUD focus today will be on the Australian labour market data. Reopened borders mean the hurdle to keep unemployment steady has risen. The latest read on US CPI inflation was the focus overnight. There was something for everyone in the data, and this generated divergence across...