Barclays Capital Research notes that USD investors’ focus will be on the US inflation data on Friday.
In that regard, Barclays forecasts headline CPI to have increased 0.2% m/m and 2.2% y/y in April, and expects core CPI to be up 0.2% m/m and 2.0% y/y, in line with consensus.
“A downside surprise in inflation could increase doubt about the pace of Fed normalization… We expect the Fed to hike in June and September, and balance sheet reduction to start in December,” Barclays argues.
Source: Barclays Research
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