MXN

It’s a little weird out there this morning: Ahead of the North American open, futures on the S&P 500 and Nasdaq are pointing to further gains after both indices hit record closing highs in yesterday’s session, and investors are positioning for a rebound in US retail sales volumes, along with an increase in uncertainty levels as a series of Federal Reserve officials make public appearances before tomorrow’s holiday market closure. Amid thin liquidity conditions, Treasury yields are inching higher, the dollar is advancing, and most major currency pairs are oscillating within narrow trading ranges as participants move to the sidelines....

The dollar continues to grind higher as traders stick to safe positions ahead of today’s inflation print and Federal Reserve decision. Equity futures are essentially flat, commodity prices are inching lower, and most major currency pairs are treading water. This morning’s consumer inflation report is expected to show price growth cooling, giving Fed officials a modicum of reassurance as they plot a more cautious easing cycle ahead. Economists polled by the major data providers expect headline inflation to have risen 0.1 percent in May, slower than the 0.3 percent pace in the month before, with the core measure holding at...