EURUSD - US CPI upside surprise in the cards
UK inflation yesterday surprised on the upside. Its service sector clearly showed reflation is kicking. The US, just like the UK is service-sector oriented. It also showed encouraging housing activity reaching highest level since 2007 (check homebuilders stocks at new highs).
Manufacturing is an issue due to lower Oil and EM. Loweroil on the other hand also helps private consumption, which is 75% of US GDP.
Manufacturing is an issue due to lower Oil and EM. Loweroil on the other hand also helps private consumption, which is 75% of US GDP.
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