Things have been relatively quiet on Thursday thus far. It seems the market is still reflecting on the latest US inflation data and updates around US reciprocal tariffs against Canada and the EU. As far as the inflation data goes, while the headline CPI was softer, underlying components warned of stickiness that could keep the Fed from leaning more accommodative.
On the data front, Eurozone industrial production came in better than expected, also accompanied by an upward revision. Earlier in the day, Australia’s consumer inflation expectations fell considerably, which should keep the RBA from considering any moves toward rate hikes.
Looking ahead, key standouts come from US producer prices and US initial jobless claims. Of course, the market will be paying attention to any updates from the tariff front.
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