US CPI in focus
• Mixed signals. Sanctions on Russian producers boosted oil prices. Limited spillover into other markets. Equities rose. AUD outperformed overnight.• US inflation. US CPI due tonight. US government shutdown delayed it. Diverging ‘goods’ & ‘services’ price trends at play. Data may generate USD vol. Global Trends Geopolitical developments generated a little volatility across a few markets overnight, though risk assets are generally firmer. US sanctions on some of Russia’s largest oil producers due to the lack of commitment to end the Ukraine war saw oil prices rise ~5%. That said, at ~$66/brl brent crude is still tracking below its 1-year...