PPI data spooks the market ahead of the FOMC decision tomorrow

Started by OZER, Dec 14, 2021, 11:36 PM

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Forex news for North American trading on Dec 14, 2021

The US PPI data was expected to be high but not this high.

Producer price came in at 9.6% versus 9.2% year on year high. That was a record and on back of the CPI which rose to a near 4 decade high, suggests the pipeline of inflation will be around for a while.

The data comes ahead of the FOMC decision tomorrow which is largely expected to lead to a doubling of the taper to $30B per month (buying is currently at $105B so in 3+ months the taper can be complete and the debt market will stand on it's own two feet - assuming all goes well)).

The Fed will also release their expectation for growth, inflation and employment and the "dot plot" of rate expectations. At the September meeting the Fed was expecting 0 to 1 tightening in 2022. That plot will be ratcheted up to up to 2-3 (if they are consistent with the market)..

As a result, it is not surprising that there was anxiety in some of the markets today.

In the forex, the GBP was the strongest of the major currencies. The CAD was the weakest. The USD moved higher through the day as there was some dollar buying ahead of the FOMC decision. However, the pairs have been doing a lot of up and down trading of late. The dollar only fell GBP today (modestly). The biggest gain was versus the CAD as the loonie was pressured by lower oil prices as well.

All content is for education purpose only, not financial advices.

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Hyperinflation in Germany, 1914-1923 , yes the very smart and world leaders in banking couldn't make this debt-printing work either.  Those who don't study history are doomed to repeat it and the US "FED" is a private company of conglomerate owners, btw  its a great example of misdirection and "Sheeple" herding, again...again ...again ... The super wealthy few, feed off the workers; there are ZERO other meaningful "sides" or politics. Those fake-differences are just a smokescreen If workers simply refused (or were ashamed) to create super-luxury goods and services, the economy (the super rich) would be forced to pay more for those ridiculous luxuries and the workers would gain some control of their economy, permanently

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Not if Biden keeps making policies that increase it. For example, now truckers can't bring in goods from Canada unless they've been vaccinated, and that means 20% of truckers that normally would deliver cannot. So that's going to increase the cost of goods. And Biden and his team are either too stupid to understand this, or they understand it completely and want inflation. That way when the economy fails they can take it over completely and blame capitalism.

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I guess inflation is good for those who borrowed money