- October 13, 2022
- Posted by: Stratford Team
- Category: Economy
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The ‘pivot’ in the Federal Reserve’s hiking cycle, and the Dollar rally, remains as elusive as ever after data confirmed U.S. inflation continues to run hot.
The Dollar was stronger across the board after it was reported U.S. inflation was stronger than the market was expecting in September, keeping alive expectations for further Federal Reserve rate hikes and diminishing the odds of a 2023 cut.
The headline U.S. CPI figure showed inflation rose 0.4% in the month to September, an increase on August’s 0.1% and double the 0.2% gain the market was expecting.
Inflation rose 8.2% in the year to September, beating expectations for 8.1% but representing a slight lowering on August’s 8.3%.
The all-important core CPI inflation figure was also bullish for the Dollar, coming in at 0.6% in the month to September, far hotter than the 0.2% gain the market was looking for the rate to remain unchanged on August.
Core CPI rose 6.6% in the year…
