A very brief snippet from BMO's preview of Tuesday's US CPI (due at 0830 US ET) report:
- (the) strong jobs backdrop will put CPI into context regardless of the print itself; after all, core inflation will either point to the ‘obvious’ need for the Fed to push further into restrictive territory or reflect the progress policymakers have made toward securing the anchor of inflation expectations. As it presently stands, investors are biased for an upside surprise versus the consensus for core-CPI of +0.4% on a monthly basis.
- the pain-trade is for an as-expected or lower read on consumer prices, and while that might not be the base case, it would elicit a far more dramatic price response in Treasuries
This snapshot from the ForexLive economic data calendar, access it here.
The times in the left-most column are GMT.
The numbers in the right-most column are the 'prior' (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.
