FOMC Minutes and Canadian CPI in focus today – Rabobank

Rabobank analysts note that today we get UK public finances and Canadian CPI, and the later will be of more interest and is seen at 0.2% m/m, 1.7% y/y, with core median at 2.1% y/y, core common at 1.8% y/y and core trim at 2.0% y/y.

Key Quotes

“In the US there are also existing home sales, which are expected up 2.3% to reverse last month’s fall of 1.7%.”

“We will also get the latest set of FOMC minutes. These can be as repetitive as Bond movies too, promising much and delivering little, and with the best bit being the moving dots (which can end up in serious blood for some). What will we see in terms of justification for the recent rate cut? What will be mentioned over the prospect for more?”