U.S. inflation data for January

• Core Consumer Price Index (CPI) (m/m) (January), fact 0.2%, forecast 0.2%.
• Core Consumer Price Index (CPI) (y/y) (January), fact 2.2%, forecast 2.1%.
• Consumer Price Index (CPI) (m/m) (January), fact 0.0%,  forecast 0.1%.

An inflation report in the USA for January turned out to be rather ambiguous. The core consumer price index in January unexpectedly rose, indicating the preservation of the positive dynamics of this indicator, in fact, retaining the potential for inflation growth in the US. The general inflation report in the United States remains restrained positive.

Fig. 1. U.S. Core consumer price index (CPI) (y/y) chart

The US dollar index was supported by the publication of an inflation report in the US, which actually accelerated the upward correction in the dollar. At the same time, the US dollar index is limited by resistance levels: 97.00 and 97.20, support: 96.70 and 96.50.

Fig. 2. The US dollar index chart. The current price is 96.60 (10-year government bonds yield is the blue line)

Read also: “Geopolitical risks for the beginning of 2019”

Hanzenko Anton

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