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Market Reports

8:16am, November 11th 2021

US Inflation Surges

Inflation in the US is back on the rise with yesterday’s data producing an eye-watering upside surprise. Forecasts were for an upward move from 5.4% in September to 5.8% in October. The actual print came in at 6.2%! This puts even more pressure on the Fed’s assumption of inflation being transitory. As one would expect, the US dollar saw a strong bid. The Fed will now have to consider speeding up how quickly they reduce their asset purchases which were only announced last week.

The greenback pushed to new yearly highs against both the pound and euro in the wake of yesterday’s release. The pound managed to hold just above $1.34 but the key euro/dollar support level of $1.15 succumbed to selling pressure late in the day. Risk assets held up rather well given the implications of yesterday’s development.

Today’s economic calendar sees UK Q3 GDP, trade, construction, and production numbers. There’s also an ECB economic bulletin released as well as an Australian jobs report overnight. The US has a national holiday today as they observe Veteran’s Day.

Written by Viv Savani. 8:16am, November 11th 2021

The details expressed in this market report are for information purposes only and are not intended as a solicitation for funds or a recommendation to trade. Cornhill International Payments limited accepts no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the above information.

Previous Reports

6:18am, January 19th 2022

US Dollar Fights Back

View Report
6:30am, January 12th 2022

Powell Offers Relief to Markets

View Report
6:45am, December 10th 2021

US Inflation Data In Focus

View Report


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