US CPI and consumer confidence amongst market movers today – Danske Bank

Research Team at Danske Bank, suggests that today, we have plenty of key economic data from the US with the release of CPI inflation figures for August and the preliminary release of the University of Michigan consumer confidence index for September.

Key Quotes

“We estimate the core CPI index increased 0.2% m/m in August implying a core inflation rate of 2.3 % y/y. Throughout 2015, core inflation trended upwards but this year CPI core inflation has been more or less unchanged. Hence, there is currently no pressure on the Fed from a rising inflation trend. We estimate the headline CPI index increased 0.1% m/m in August, implying an inflation rate of 1.0% y/y.

We estimate the consumer confidence index data from University of Michigan increased to 93 in September from 89.8 in August.”