The core CPI in the US for September rose by 0.2%, below the expected 0.3%, once again lower than anticipated. The market can now interpret any data as Favourable Information: a drop in inflation indicates a dovish stance, while high inflation suggests a strong economy.



Anyway, there are reasons for the rise. In this environment, basically any slight movement can become an excuse for speculation; the data is no longer important, what matters is who can tell a more enticing story.
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